North America Electric Vehicle Battery Market Share

Market Share of North America Electric Vehicle Battery Industry

The North America Electric Vehicle Battery Market is consolidated one owing to presence of several global players in the region. While some of the prominent companies in the market focused on competing on the basis of product quality offered, other major players in this market inclined on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. For instance,

• In May 2022, Hyundai Motor Group announced that it has entered into an agreement with the State of Georgia to build its first dedicated full electric vehicle and battery manufacturing facilities in the U.S. The new EV plant and battery manufacturing facilities represent an investment of approximately USD 5.54 billion andis expected to begin commercial production in the first half of 2025 with an annual capacity of 300,000 units.
• In March 2022, Panasonic Corporation official sources stated that it is looking to purchase land in the United States for a mega-factory to make a new type of electric vehicle (EV) battery for Tesla Inc.
• In May 2021, SK Innovation and Ford Motor are set to announce a battery joint venture in the US to ensure a stable supply of batteries for electric vehicles. SK Innovation aims to expand its global battery production capacity to 85 GWh in 2023 and over 125 GWh by 2025, which can power about 1.8 million EVs, and Ford announced a USD 22 billion investment plan through 2025 to speed up its EV transition.
• In December 2021, Lightning eMotors has reached an agreement to supply battery products produced by Contemporary Amperex Technology Co. Limited. Additionally, Lightning eMotors is working with CATL and CSI to design and install contactor safety switch systems on CATL C- and G-battery packs that will be exclusive to Lightning-eMotors.

North America Electric Vehicle Battery Market Leaders

1. Contemporary Amperex Technology Co., Limited (CATL)

2. Panasonic Corporation

3. LG Energy Solution

4. samsung sdi

5. SK innovation

*Disclaimer: Major Players sorted in no particular order