Last Updated on July 21, 2021 by Henry John
The rising demand for electric vehicles is fueling high demand for electric car batteries. In 2017, Allied Market Research valued the global electric vehicle battery market size at $23 billion and that number is projected to reach $84 billion by 2025.
Currently, development of solid state batteries seems to hold great promise for EVs but Lithium-ion batteries are driving the demand of electric vehicle batteries.
There aren’t many publicly traded electric vehicle battery manufacturers that are prominent players in the market and in some ways that’s a good thing.
Here are the major electric vehicle (car) battery companies stock:
Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally.
The company operates in two segments, Automotive; and Energy Generation and Storage.
- The Automotive segment offers sedans and sport utility vehicles. It also provides electric powertrain components and systems; and services for electric vehicles through its company-owned service locations, and Tesla mobile service technicians, as well as sells used vehicles. This segment markets and sells its products through a network of company-owned stores and galleries, as well as through its own Website.
- The Energy Generation and Storage segment offers energy storage products, such as rechargeable lithium-ion battery systems for use in homes, industrial, commercial facilities, and utility grids; and designs, manufactures, installs, maintains, leases, and sells solar energy generation and energy storage products to residential and commercial customers.
It also provides vehicle insurance services, as well as renewable energy.
The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was founded in 2003 and is headquartered in Palo Alto, California.
2. Panasonic Corp.
Panasonic Corporation, together with its subsidiaries, develops, produces, sells, and services electrical and electronic products under the Panasonic brand name worldwide.
It operates through Appliances, Eco Solutions, Connected Solutions, Automotive & Industrial Systems, and Other segments.
- The Appliances segment offers air conditioners, TVs, refrigerators, washing machines, personal care products, microwave ovens, digital cameras, home audio equipment, video equipment, fixed-phones, vacuum cleaners, rice cookers, show cases, compressors, fuel cells, etc.
- The Eco Solutions segment provides lighting fixtures, lamps, wiring devices, solar photovoltaic systems, water related products, interior and exterior furnishing materials, ventilation and air conditioning equipment, air purifiers, bicycles, nursing care related products, etc.
- The Connected Solutions segment offers in-flight entertainment systems and communications services, electronic components mounting machines, welding equipment, PCs and tablets, projectors, broadcast and professional AV systems, surveillance cameras, etc.
- The Automotive & Industrial Systems segment provides automotive use infotainment systems, electrical components, automotive mirrors, lithium ion and automotive batteries, dry batteries, automation controls, electric motors, electronic components, electronic materials, semiconductors, LCD panels, etc.
- The Others segment provides detached housing construction, apartment housing rental, and home remodeling services; and sells land, properties, and condominiums.
The company offers its products to business and industrial customers, and consumers. Panasonic Corporation has a strategic partnership with Plug and Play, and Welcome Air-Tech Ltd. The company was formerly known as Matsushita Electric Industrial Co., Ltd. and changed its name to Panasonic Corporation in 2008. Panasonic Corporation was founded in 1918 and is headquartered in Kadoma, Japan.
3. LG Chem
LG Chem, Ltd. engages in the petrochemicals, energy solution, advanced materials, and life sciences businesses in South Korea, China, Asia, the United States, Europe, and internationally.
It provides olefin petrochemicals, including ethylene, propylene, butadiene from Naphtha, and benzene; synthetic resin and synthetic components from olefin, and aromatic petrochemicals; PE, polypropylene, bisphenol A, acrylonitrile butadiene styrenes, EP, polyvinyl chloride, plasticizers, acrylics, super absorbent polymers, synthetic rubber, and others.
The company also manufactures and supplies IT and new application batteries for mobile phones and laptop computers; automotive batteries for electric vehicles; and energy storage system batteries. In addition, it manufactures and supplies various IT materials, such as polarizers, automotive materials, glass substrates, OLED films, OLED materials, battery materials and others, and RO membranes, as well as semiconductor materials, and display and battery materials for LCD photoresist.
Further, the company offers human growth hormones, diabetes drugs, bovine somatotropins, vaccines, hyaluronic acid fillers, and others; fine chemical products for rice farming; diagnostic kits; and others. Additionally, it provides crop protection products, seeds, fertilizers, agricultural pesticides, and others; research services; and facility management and general cleaning services.
The company also manufactures and sells adhesives and electronic parts; sells water processing membranes; and invests in venture companies. LG Chem, Ltd. was founded in 1947 and is headquartered in Seoul, South Korea.
4. Johnson Matthey
Johnson Matthey Plc provides specialty chemicals in North America, Europe, China, rest of Asia, and internationally. It operates through Clean Air, Efficient Natural Resources, Health, and New Markets segments.
The Clean Air segment provides catalysts for gasoline and diesel light duty vehicles; and catalyst systems for diesel powered trucks, buses, and stationary equipment. This segment serves car companies, heavy duty truck and engine manufacturers, Chinese producers, and others.
The Efficient Natural Resources segment manufactures specialty catalysts and additives, as well as licenses process technology and delivers services to the oil and gas industry; refines, recycles, markets, and distributes platinum group metals (pgms); fabricates products using precious metals and related materials; provides pgm chemicals, and precious metal pastes and enamels. This segment serves chemical, oil, and gas companies; engineering contractors; industrial pgm users; end of life auto catalyst collectors; and automotive industry suppliers.
The Health segment develops and manufactures active ingredients for various treatments; provides complex solutions for generic and innovator companies; and operates in the outsourced small molecule API market.
The New Markets segment offers battery materials, battery systems, and fuel cell technologies; and provides science and technology to develop the products for devices used in medical procedures, as well as offers catalysts to agricultural chemicals markets. This segment serves automotive and heavy duty vehicle companies; lithium ion cell manufacturers; fuel cell manufacturers; cordless tool and transport manufacturers; medical device companies, fine chemical, and agrochemical companies.
Johnson Matthey Plc was founded in 1817 and is based in London, the United Kingdom.
5. SK Innovation
SK Innovation Co., Ltd., through its subsidiaries, operates as an energy and chemical company worldwide. It operates in four segments: Petroleum, Petrochemicals, Lubricants, and Others.
The company explores for, develops, produces, and sells crude oil and natural gas, as well as operates petroleum production blocks in the United States, Peru, Vietnam, and China; imports crude oil; and produces and sells petroleum products, including gasoline, diesel, kerosene, and aviation fuel to distributors, gas stations, and intermediate sellers, as well as to general consumers through gas or charging stations.
It also produces and sells olefin products, including ethylene and propylene; petrochemicals, such as synthetic resins and synthetic rubber; base oils for vehicle engines and transmissions; lubricant products for industries and vehicles; and high capacity lithium-ion batteries, which are used for electric vehicles and energy storage batteries, and lithium-ion battery separators.
In addition, the company engages in the provision of insurance, business consulting, petroleum transport, and investment and trading services; equity investment activates; and operation of a professional football club and petrol station.
Further, it provides LPG, polymer modified asphalt, premium asphalt, regular asphalt, sulfur, and slurry oil; and specialty and performance chemicals for use in the automotive, packaging, aromatics, and olefin and polymer industries. It operates in 13 production and 4 LNG projects worldwide.
The company was formerly known as SK Energy Co., Ltd. and changed its name to SK Innovation Co., Ltd. in January 2011. SK Innovation Co., Ltd. was founded in 1962 and is headquartered in Seoul, South Korea.
Electrovaya Inc., together with its subsidiaries, designs, develops, manufactures, and markets lithium-ion based battery products in Canada, the United States, and internationally.
It provides lithium-ion batteries and systems for materials handling electric vehicles (MHEVs) and other electric transportation applications, as well as for electric stationary storage and other battery markets.
The company also offers lithium ion battery systems to power MHEVs, including fork-lifts and automated guided vehicles; and accessories, such as battery chargers to charge the batteries.
In addition, it provides electromotive power products for electric trucks, electric buses, and other transportation applications; industrial and residential products for energy storage; and power solutions, such as building systems for third parties.
The company was formerly known as Electrofuel Inc. and changed its name to Electrovaya Inc. in March 2002. Electrovaya Inc. was founded in 1996 and is headquartered in Mississauga, Canada.