The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment. Once a leader in the EV battery business, Panasonic now holds the fourth position with an 8% market share, down from 9% last year.
This was driven by demand from its own models and growth in third-party deals, including providing 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.
Yes, there is. Lithium-iron phosphate batteries, or LFP batteries. These are now starting to become more commonplace, and they have some significant advantages over lithium-ion packs. For a start, they’re more affordable to build, and their chemistry means that you can forgo some of the harder-to-mine rare-earth metals such as cobalt.
NCMA combines the best characteristics of NCM and NCA chemistries and represents a solid improvement. Anyway, right now it seems that two cathode chemistries will dominate the EV battery world in the near future. The NCMA cathode which offers the best energy density and the cobalt-free LFMP cathode which offers the best cost.
In February 2023, the company’s dominant position in the electric vehicle (EV) battery market was cemented by a report from SNE Research—a South Korean firm, which highlighted Contemporary Amperex Technology Limited’s (CATL’s) growth to 191.6 GWh produced in 2022. CATL has reigned supreme for a number of years with a market share of 34% in 2022.
Back then, Tesla was the only automaker using the most energy dense batteries available, which were NCA battery cells in cylindrical form. Most automakers were using LMO battery cells in their electric cars, which are far from great…
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