2021 global trends in EV battery production: 3 Asian firms dominated

Adamas Intelligence’s latest EV Battery Capacity and Battery Metals Tracker describes the key trends in the EV battery industry in 2021. A record amount of passenger EV battery capacity was deployed, three companies claimed 67% of the global market, and Tesla was a dominant influence.

According to Adamas Intelligence, 286.2 GWh of passenger EV battery capacity was globally deployed in 2021, which represents a 113% increase since 2020. The Chinese company CATL accounted for 31% of this deployed battery capacity, South Korea’s LG Energy Solution claimed 22%, and Panasonic contributed 14%.  

Adamas also says that globally, 23% of all passenger EV battery capacity in 2021 went into Tesla vehicles. Some 21% of CATL’s deployed battery capacity went into made-in-China (MIC) Tesla Model 3s and Model Ys, 19% of LG Energy Solution’s capacity went into MIC Tesla Model 3s and Model Ys, and 87% of Panasonic’s capacity went into Tesla vehicles of all kinds.

In terms of volume produced, Adamas says LG Energy Solution built the most battery packs in 2021.

“In 2021, the average [plug-in vehicle] sold with Panasonic cells had a battery pack capacity of 58.4 kWh versus a lower 52.8 kWh for CATL and 49.5 kWh for LG Energy Solution,” says Adamas.

Source: Adamas Intelligence