5 Biggest Battery Manufacturers in the World

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In this article, we will be taking a look at the 5 biggest battery manufacturers in the world. To read our detailed analysis of the battery sector, you can go directly to see the 12 Biggest Battery Manufacturers in the World.

5. SK Innovation Co., Ltd.

Market share as of  July 2022: 6.5%

SK Innovation Co., Ltd. is an energy and chemical company that operates in the fields of oil exploration, batteries, and alternate energy and is based in Seoul, South Korea. It is a part of the SK Group and was the first to bring high-energy ternary materials to the EV market.

SK Innovation Co., Ltd. provides batteries to a number of major automotive manufacturers including Bayerische Motoren Werke Aktiengesellschaft, Ford Motor Company, Volkswagen SA, Kia Corporation, and Hyundai Motor Company. It sold 17 GWh in 2021 and sold 10 GWh in the first half of 2022 with a year-on-year growth rate of 50%. It has announced plans to produce a new, cheaper lithium-iron-phosphate EV battery in 2025 and has made major investments in battery plants in the United States, expecting to reach an annual capacity of 150 GWh by 2026.

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