Factbox: Electric-vehicle batteries: major players and their expansion plans

- Advertisement -


Seoul, Oct 5 (Businesshala) – The global auto industry’s transition to electric vehicles (EVs) has sparked an expansion race among battery makers, and exacerbated a skills shortage. Watch the main story:

- Advertisement -

According to consulting firm Deloitte, global sales of EVs are projected to be 2.5 million vehicles in 2020, projected to grow more than 12-fold to 31.1 million by 2030, and new vehicle sales account for nearly a third.

- Advertisement -

Here are the expansion plans of the major players in the major EV markets in China, the United States and Europe.

CATL (300750.SZ)

- Advertisement -

As of the end of June, the Chinese company has an annual battery production capacity of 65.45 gigawatt hours (GWh), and an additional 92.5 GWh of capacity under construction.

Global Industry Leader by market share, its customers include Volkswagen (VOWG_p.DE), General Motors (GM.N), BMW >BMWG.DE> and Daimler (DAIGn.DE) as well as Chinese automakers.

The company announced plans to set up a production base in Shanghai in August, a move that would put it closer to Tesla Inc.’s (TSLA.O) Chinese production base.

LG Energy Solutions (LGES)

The South Korean leader expects its production capacity to reach 155 GWh by the end of this year and plans to increase that to 430 GWh by 2025 – which could power about 7.2 million EVs.

It plans to invest more than $4.5 billion in its US battery production business by 2025. The plans include two new plants, jointly built with GM in Ohio and Tennessee, that will allow LGES to manufacture a total of 70 GWh batteries in the United States. till 2024.

LGES already has a factory in Michigan with an annual production capacity of 5 GWh.

In China, where the company makes cylindrical battery cells for Tesla (TSLA.O), it has invested about 5.7 trillion Won ($4.8 billion) and plans to invest another 1.5 trillion Won.

It has invested about $6.8 trillion in Poland since 2016 to secure an annual production capacity of 70 GWh and plans to invest another 2.5 trillion won.

In July, LGES and Hyundai Motor Group said they would invest $1.1 billion to jointly set up an EV battery cell plant in Indonesia.

Panasonic (6752.T)

The Japanese company manufactures cylindrical NMA (nickel-manganese-aluminum) batteries in the United States at a plant in Nevada and at facilities in Japan. Almost everyone goes to Tesla.

It does not disclose its manufacturing capacity, but said in May that Tesla is aiming to expand the 35 GWh Nevada facility due to growing demand. The Nevada plant, built at a cost of $1.6 billion, was opened in 2014.

Panasonic plans to launch a test line in Japan this year to create a new cylindrical battery designed by Tesla to cut battery costs in half. It also has a joint venture with Toyota Motor (7203.T), founded in February by Prime Planet Energy and Solutions, to develop prismatic batteries.

The company has said it is considering building an auto battery plant in Norway to expand into Europe, but has not yet given details.

SK ON

SK On has a combined global annual production capacity of 40 GWh – 27 GWh in China, 7.5 GWh in Hungary and the rest from South Korea.

It plans to boost to 220 GWh more than fivefold by 2025, with expansion primarily focused on the US market.

SK On is building two EV battery plants in Georgia with a combined annual production capacity of 21.5 GWh that will begin production by early 2022.

With partner Ford Motor Company (FN), it has a 10.2 trillion won investment plan to build three separate battery plants in the United States with a combined annual capacity of 129 GWh batteries, to power approximately 2.2 million EVs. It is adequate.

Samsung SDI (006400.KS)

An affiliate of Samsung Electronics Co. Ltd. (005930.KS) has EV battery cell plants in Hungary, China and South Korea.

It does not disclose the breakdown of its investment or production capacity.

In July, Businesshala reported that the company, whose customers include Ford and BMW, may build a battery cell plant in the United States. Samsung SDI is in talks to supply batteries manufactured at a potential US factory, with EV makers including Stellantis (STLA.MI) and Rivian, backed by Amazon (AMZN.O) and Ford.

($1 = 1,182.8700 won)

Reporting by Hekyong Yang in Seoul, Yili Sun in Shanghai and Tim Kelly in Tokyo; Editing by Mieong Kim and Praveen Charo

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox