Top 10 EV battery manufacturers all Asian companies; China accounts for 56% of market, Korea 26% and Japan 10%
The top 10 global producers of Li-ion batteries for electric vehicles are all Asian companies, according to an analysis posted on the Visual Capitalist. Chinese companies make up 56% of the EV battery market, followed by Korean companies (26%) and Japanese manufacturers (10%).
China-based CATL, the world’s top supplier, expanded its market share from 32% in 2021 to 34% in 2022. One-third of the world’s EV batteries come from the Chinese company, which provides lithium-ion batteries to Tesla, Peugeot, Hyundai, Honda, BMW, Toyota, Volkswagen, and Volvo.
Korea’s LG Energy currently remains the second-largest supplier, closely followed by BYD, which elbowed past Panasonic from 2021 to 2022.