Lithium Battery Production By Country: Top 5 Countries

1. China

Share of global lithium-ion battery manufacturing capacity in 2021: 79%

Chinese companies are responsible for 56% of the EV battery market, followed by Korean and Japanese companies. Four of the ten largest battery manufacturers are headquartered in China. China is also dominating other parts of the battery supply chain, including refining and mining of battery materials like lithium and graphite. A few of the Chinese battery companies include CATL, BYD, CALB, Guoxuan, Sunwoda, and SVOLT.

From 2021 to 2022, CATL, a leading battery supplier expanded its market share from 32% to 34%. This company is responsible for one-third of the world’s EV batteries. CATL provides lithium-ion batteries to Peugeot, Honda, Toyota, Volvo, Tesla, Hyundai, BMW, Toyota and Volkswagen. 

BYD doubled its market share from last year and became number 2 on the list with a market share of 12% in 2022. The market share of CALB is 4%. Guoxuan has a market share of 3%. Sunwoda has a market share of 2%. SVOLT has a market share of 1% as of 2022. 

The growth of the companies was driven by the demand for batteries from different car manufacturing companies. Europe, the US, Korea and other giant manufacturers of cars aim to reduce fossil fuel consumption and carbon emissions significantly by 2030. Consequently, the production of lithium has increased by more than 3500% relative to 2020 production.

You can also take a peek at 10 Best Stocks in Each Sector and 10 Best Regional Bank Stocks To Invest In.