5 Biggest Battery Manufacturers in the World

2. LG Energy Solution, Ltd.

Market share as of  July 2022: 14.4%

LG Energy Solution, Ltd. is a Seoul, South Korea-based chemical company with global sales. It is a subsidiary of LG Group and has been mass-producing South Korea’s first lithium-ion batteries since 1999. Along with producing batteries it also competes in grid-scale energy storage sectors.

The company supplies a number of EV manufacturers with batteries including Tesla in China, General Motors, and Volkswagen SA. It had sales of 61 GWh in 2021 and 28 GWh in the first half of 2022 and commanded a 14.4% of the total battery market share which makes it the largest non-Chinese battery manufacturer. The company has strong operating margins of 11.4% as of 2021 and a liquidity ratio of 1.73 as of September 2021.