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As global demand for clean energy continues to rise, the power battery industry is confronted with unprecedented opportunities and challenges in 2024. This year, the top 10 power battery manufacturers globally not only dominate the market in terms of installed capacity, but have also made significant progress in technological innovation, product diversification, and international service.
These companies, including leading players like CATL and BYD, as well as strong competitors from South Korea and Japan, are driving rapid development in the new energy vehicle industry through continuous R&D investments and extensive international collaboration. This article will focus on these top 10 installed capacity power battery manufacturers in the world, exploring their key product features, technological innovation paths, and unique positions in the global market.
List of the top 10 installed capacity power battery manufacturers in the world
According to the latest statistics from SNE, the global installed capacity of registered electric vehicles (including EVs, PHEVs, and HEVs) from January to October 2024 is approximately 686.7 GWh, a 25% increase compared to the same period last year. During this period, the top ten companies ranked by global power battery installed capacity are:
- CATL
- BYD
- LG Energy Solution
- CALB
- SK On
- Panasonic
- Samsung SDI
- Gotion High-Tech
- EVE Energy
- Sunwoda
CATL
Establish time: 2011
Location: Fujian, China
Website: www.catl.com
Installed capacity from January to October 2024: 252.8 GWh
Company profile: Founded in 2011 and headquartered in Fujian, China, CATL is the world’s largest power battery manufacturer. Its main products include lithium iron phosphate batteries (LFP) and ternary lithium batteries (NCM/NCA), widely used in electric vehicles and energy storage.
CATL focuses on the R&D of solid-state batteries, having released the Shenxing battery and chosen the sulfide route for its solid-state battery research. Core technologies include CTP (cell-to-pack) and the upcoming sodium-ion battery. With a market share exceeding 35%, CATL is a key supplier for major global automotive companies including Tesla and BMW.
BYD
Establish time: 1995
Location: Shenzhen, China
Website: https://www.bydglobal.com/
Installed capacity from January to October 2024: 115.3 GWh
Company profile: Founded in 1995 and headquartered in Shenzhen, China, BYD is both a new energy vehicle manufacturer and a leader in power batteries. It has a wide product line in the new energy vehicle sector, supplying batteries not only for its own vehicles but also for other manufacturers such as Xiaomi Auto.
Its “Blade Battery” uses lithium iron phosphate technology, offering high safety and longevity. BYD’s integrated supply chain and leadership in purely electric vehicles ensure its products reach multiple countries in Asia, Europe, and America, continually driving innovation in lithium iron phosphate battery technology.
LG Energy Solution
Establish time: 2020
Location: Seoul, South Korea
Website: www.lgensol.com
Installed capacity from January to October 2024: 81.2 GWh
Company profile: Established in 2020 (spun off from LG Chem) and headquartered in Seoul, South Korea, LG Energy Solution is a leader in the field of ternary lithium batteries (NCM/NCMA). Its batteries are known for high energy density and high nickel technology, widely used by automakers such as Hyundai and General Motors.
LG Energy Solution plans to launch two types of solid-state batteries, polymer and sulfide, aiming for commercialization of these products by 2028. The company operates several battery factories in Europe and North America and is aggressively expanding global capacity to meet market demand.
CALB
Establishment Time: 2007
Location: Jiangxi, China
Website: http://www.calb-tech.com/
Installed capacity from January to October 2024: 33.1 GWh
Company Profile: Founded in 2007 and headquartered in Ganzhou, Jiangxi, CALB is a rapidly rising power battery supplier. Its products cover lithium iron phosphate and ternary lithium batteries, primarily applied in commercial vehicles, passenger cars, and energy storage systems.
The company focuses on high-voltage nickel manganese lithium and other high-performance battery technologies and is dedicated to researching 5V high-voltage nickel manganese lithium, hybrid solid-liquid batteries, and solid-state batteries to enhance its market competitiveness and actively expand production capacity globally, providing cost-effective power battery solutions.
SK On
Establish time: 2021
Location: Seoul, South Korea
Website: www.skinnovation.com
Installed capacity from January to October 2024: 31.1 GWh
Company profile: Founded in 2021 (spun off from SK Innovation), headquartered in Seoul, South Korea, SK On focuses on high nickel ternary lithium batteries (NCM).
Its batteries are characterized by high energy density and stable performance, supplying international automakers such as Ford and Kia. SK On is developing composite materials and sulfide solid-state batteries, with prototypes expected to be released in 2026.
Panasonic
Establish time: 1918
Location: Osaka, Japan
Website: https://www.panasonic.com/
Installed capacity from January to October 2024: 28.4 GWh
Company Profile: Established in 1918 and headquartered in Osaka, Japan, Panasonic is one of Tesla’s major battery suppliers. Its 18650 and 21700 cylindrical lithium batteries are renowned for high energy density and reliability.
Panasonic is collaborating with Tesla to develop a new type of 4680 battery, aiming to enhance electric vehicle range while expanding into energy storage and aviation markets.
Samsung SDI
Establish time: 1970
Location: Yongin, South Korea
Website: www.samsungsdi.com
Installed capacity from January to October 2024: 26.2 GWh
Company profile: Founded in 1970 and headquartered in Gyeonggi-do, South Korea, Samsung SDI is a leading global battery manufacturer. Its square and cylindrical lithium batteries are widely used in electric vehicles, energy storage, and consumer electronics.
The company has delivered initial samples of solid-state batteries for customer testing and plans to apply this technology in high-end luxury electric vehicles.
Gotion High-Tech
Established: 2006
Location: Hefei, Anhui, China
Website: www.gotion.com.cn
Installed capacity from January to October 2024: 17.7 GWh
Company Profile: Founded in 2006 and headquartered in Hefei, Anhui, Gotion High-Tech primarily produces lithium iron phosphate batteries (LFP) known for their cost-effectiveness.
The company focuses on the electric vehicle and energy storage markets and is expanding its business in Europe and North America while dedicating efforts to the research and development of sodium-ion battery technology to enhance its market competitiveness.
EVE Energy
Establish time: 2001
Location: Huizhou, Guangdong, China
Website: www.evebattery.com
Installed capacity from January to October 2024: 16.3 GWh
Company profile: Founded in 2001 and headquartered in Huizhou, China, EVE Energy is an important supplier in the power battery field. Its products span from consumer electronics to electric transportation.
EVE Energy offers various forms of lithium batteries, including cylindrical, square, and soft-pack batteries, continuously optimizing battery performance and expanding its market share.
Sunwoda
Establish time: 1997
Location: Shenzhen, Guangdong, China
Website: www.sunwoda.com
Installed capacity from January to October 2024: 14.3 GWh
Company profile: Founded in 1997 and headquartered in Shenzhen, China, Sunwoda is a leading lithium-ion battery manufacturer focusing on the R&D and production of small lithium-ion batteries and power batteries.
Its power battery products include square lithium batteries and modules, applied in passenger vehicles and energy storage systems. Sunwoda is expanding battery capacity and positioning itself in the global power battery market.
Conclusion
In summary, the power battery industry in 2024 shows strong growth momentum, with the top ten companies occupying significant positions in the global market through continuous innovation and technological breakthroughs. In the future, as technology continues to develop and application fields expand, these companies are expected to continue to lead industry development and contribute to the global transition to clean energy.
