5 Next Generation Battery Technology Companies

3. Panasonic Holdings Corporation

Revenue as of 2021: $60.5 billion 

Panasonic Holdings Group is a multinational electronics corporation based in Kadoma, Japan. It was founded in 1918 and produces a wide range of electronic products, including televisions, digital cameras, automotive components, and batteries. Panasonic Holdings Group is a major player in the battery market, particularly in the lithium-ion battery segment while its product line also includes lithium coin, valve-regulated lead acid, and nickel metal hydride batteries. As of the first half of 2022, the company had a global power battery market share of 9.6%, the fourth highest in the world.

The company is a leading supplier of batteries to the automotive industry, providing battery cells for hybrid and electric vehicles. It has also formed strategic partnerships with companies such as Tesla and Toyota. For example, Panasonic Holdings Group has been producing Tesla’s 2170 cylindrical batteries since 2016 in Nevada, where the facility produces 37 gigawatt-hours of batteries a year. In 2021, it expanded to Nevada with Tesla’s Gigafactory 1 and has also broken ground in a $4 billion factory in Kansas, where it is supposed to start production in 2025 for 2170 cells for companies including Lucid. The Kansas plant is expected to add 60% to Panasonic’s global battery capacity.

The company expects its revenue from the energy business to show a 26% increase by 2025 alongside better performance indicators such as its EBITDA. Its operating income increased by 5.4% from $14.7 billion in 2021 to $15.5 in 2022, while its EBIT margins increased by 35% from 2.1 billion in 2021 to 2.8 billion in 2022.