Ranked: The Top 10 EV Battery Manufacturers in 2023

@Sakura please summarize this article, thanks uwu.

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Reading https://www.visualcapitalist.com/ranked-the-top-10-ev-battery-manufacturers-in-2023/

TLDR :star2:

The article ranks the top 10 EV battery manufacturers in 2023, with Chinese companies dominating the market.

Key Points :key:

  • CATL is the largest global battery group, with a 34% market share.
  • BYD surpassed LG Energy Solution to claim the second spot, driven by demand from its own models and growth in third-party deals.
  • The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment.
  • Panasonic, once a leader in the EV battery business, now holds the fourth position with an 8% market share.

In-depth Summary :memo:

The article provides an overview of the top 10 EV battery manufacturers in 2023, based on their total battery deployment measured in megawatt-hours. It highlights the dominance of Chinese companies, with CATL leading the pack with a 34% market share. CATL supplies batteries to a range of made-in-China vehicles, including the Tesla Model Y, SAIC’s MG4/Mulan, and various Li Auto models.

BYD, another Chinese company, has surpassed LG Energy Solution to claim the second spot, driven by demand from its own models and growth in third-party deals. BYD now provides batteries for the made-in-Germany Tesla Model Y, Toyota bZ3, Changan UNI-V, Venucia V-Online, as well as several Haval and FAW models.

The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment, highlighting the concentration of the market. Panasonic, once a leader in the EV battery business, now holds the fourth position with an 8% market share, down from 9% last year. The article suggests that with Tesla now sourcing batteries from multiple suppliers, Panasonic seems to be losing its competitive edge in the industry.

Writer’s Main Point :dart:

The article emphasizes the dominance of Asian, particularly Chinese, companies in the EV battery manufacturing industry, despite efforts from the U.S. and EU to secure local domestic supply. The top 10 EV battery manufacturers are all based in Asia, with CATL leading the pack and the top three players accounting for two-thirds of the total market.