5 Biggest Battery Manufacturers in the World

3. BYD Company Limited

Market share as of  July 2022: 11.8%

BYD is an integrated EV company that has a vertically integrated business model as it produces the batteries and other components for its EVs in-house and is based in Shenzhen, China. It recently overtook Tesla as the world’s largest EV maker due to its huge market in China. In 2022, it had 1.87 million EV deliveries.

In 2021, BYD Company Limited had sales of 26 GWh and increased the number of sales to 24 GWh in the first half of 2022 alone. It was the second lithium-ion cell producer in China to reach Tier One and was promoted to this level in the first half of 2021. The company already has more than 20 battery plants in China with a total capacity of 135 GWh by the end of 2021. It has started working on a plant in Zhejiang with an annual capacity of 20 GWh and plans to raise its capacity to 445 GWh by 2024.