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Benchmark: Li-ion battery 2031 pipeline blows past 7 TWh; 9 companies control half of gigafactory capacity

The 2031 Li-ion battery gigafactory pipeline capacity has soared past the 7TWh threshold in Benchmark Minerals’s latest Gigafactory assessment. This milestone comes just four months after the ten-year pipeline exceeded 6 TWh in April.

BYD last month announced a 30 GWh gigafactory in Yichun, China, tipping the pipeline capacity for the next decade past the milestone.

Despite the number of companies in the pipeline now nearing 120, more than half of the global capacity is 2031 is set to be controlled by just nine companies.

China dominates the gigafactory pipeline with more than double the capacity of the rest of the world combined. However, much of this is from Tier 2 and Tier 3 producers, with a smaller proportion of producers actually qualified to serve EV markets outside of China.

Benchmark defines Tier 1 is defined as a battery manufacturer that is qualified to supply more than one multinational automaker outside of China. These include China’s CATL, Panasonic, BYD, Envision AESC, LG Energy Solution, SK Innovation, and Samsung SDI.

China has strength in the midstream, too. It has a stronghold grip on the cathode market, with its proportion of the global supply set to increase to nearly 90% in 2030.

On the other side of the battery, China also controls most of the anode market. The flake graphite that feeds this industry is set to enter its first deficit of the gigafactory era this year as electric vehicles become the main driver of the graphite market, Benchmark said


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