Lithium ion battery production capacity by company 2028

By 2028, it is estimated that battery manufacturer CATL will produce lithium-ion batteries with a cumulative capacity of 307 GWh. Lithium-ion battery production is expected to increase significantly in order to meet the demands of the growing electric vehicle fleet worldwide.

The global Li-ion battery market

As the political and social need for green transition increases, the automotive industry needs to keep up with the pace of the change by adapting their products and services to comply with new standards and meet society's expectations. Global battery demand for electric mobility is forecasted to increase from 142 gigawatt hours in 2018 to 2,333 gigawatt hours in 2030. The Chinese battery producer Contemporary Amperex Technology Co. Limited (CATL) increased its revenue nine-fold between 2015 to 2019. In the upcoming five years, the global lithium-ion battery market is expected to double in size, reaching 71 billion U.S. dollars by 2025.

Electric vehicles worldwide

Since the global negotiations on climate change action are not unilaterally accepted, huge variations across countries exist. Some countries heavily subsidize and encourage citizens to purchase electric cars and firms to prioritize the green transition and mitigate climate change. In 2019, over 100,000 new electric passenger vehicles were registered in Germany, which is more than six times as large as the number registered in Spain. In terms of the electric vehicles in use, the estimated number in China is above 3.3 million units and 1.4 million units in the U.S.