Asian firms dominate the electric vehicle battery market and grow their production capacity in Europe, China, and the U.S. in a battle to win lucrative contracts from global automakers.
Nonetheless, some car manufacturers are worried that not enough batteries will be sufficient for all the EVs they plan to launch in the coming years and a bitter battle between South Korea's SK Innovation and LG Chem risks would intensify the possible shortage.
Below are some of the world's leading EV battery manufacturers with customer information and plans for expansion:
Among its clients are BMW, Volkswagen Group, Daimler, Volvo, Toyota and Honda, China's Contemporary Amperex Technology (CATL), the world's largest EV battery manufacturer.
Partly thanks to Beijing's policy of subsidizing only vehicles fitted with Chinese batteries on the world's largest EV market, the company emerged as a major force. Next year, Beijing will phase out EV subsidies.
Panasonic from Japan, a U.S. manufacturer. EV leader Tesla, said it had built equipment to increase production at the Nevada plant in Tesla to 35 GWh from its current production of about 30 GWh at the end of October. Panasonic said it's investing in the factory for around $1.6 billion.
Panasonic also manufactures EV batteries in Japan, China, and plans to move some of its plants with Toyota to a new joint venture. Honda and Ford are also included in Panasonic's clients.
The South Korean company was a mover of the early industry, winning a contract in 2008 to supply General Motor's Volt. Ford, Renault, Hyundai Motor, Tesla, VW and Volvo are also supplied.
Building and expanding production facilities near Tesla's Shanghai plant is spending 3.3 trillion won ($2.8 billion). It has a joint venture (JV) with Geely Automobile Holdings in China, which produces Volvos, and is exploring JVs in major markets with other car manufacturers.
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