5 Next Generation Battery Technology Companies

In this article, we will be taking a look at the 5 next generation battery technology companies. To read our detailed analysis of the next generation battery market, you can go directly to see the 21 Next Generation Battery Technology Companies. 

5. BYD Company Limited

Revenue as of 2021: $34.01 billion

BYD Company Limited is an integrated EV company based in Shenzhen, China. It was founded in 1995 as a battery manufacturing company but also entered the automobile industry in 2003. Since then, it has been producing batteries, semiconductors, hybrid vehicles, and battery-powered vehicles, as well as other components in its EVs. It is the top EV company in China, well ahead of the national EV market. As of the first half of 2022, the company had a global power battery market share of 11.8%, the third highest in the world.

The company is backed by Warren Buffett and has recently exceeded Tesla as the world’s largest EV maker while still having further room to expand internationally.  It had 1.87 million EV deliveries in 2022 due to its cost advantages over competitors. BYD has these advantages thanks to being the only EV player that has a vertically integrated business model since it produces batteries and other components for EVs itself. In fact, BYD sells these to some of its competitors, including Tesla. This has given it the advantage of having 20%-30% lower costs than leading automakers such as Toyota. BYD raised $3.9 billion in a private placement in 2021 and has had a positive cash flow which is encouraging for its sustained growth.