In this piece, we will take a look at the top 5 battery manufacturers in USA. For more corporations, head on over to the top 12 battery manufacturers in USA.
5. Nikola Corporation (NASDAQ:NKLA)
Nikola Corporation (NASDAQ:NKLA) announced in March 2023 that it would complete a battery manufacturing move from California to Arizona by 2023. Nikola Corporation (NASDAQ:NKLA) recorded revenue for the first time in 2023, earning $51 million in 2022, though it’s still some way away from earning a gross profit. However, Nikola Corporation (NASDAQ:NKLA) has had a torrid 2023, with its share price falling by more than 40%.
4. Microvast Holdings, Inc. (NASDAQ:MVST)
Microvast Holdings, Inc. (NASDAQ:MVST) is considered to be an industry leader in lithium-ion batteries, and recently crossed $200 million in annual revenue. An amazing year has seen Microvast Holdings, Inc. (NASDAQ:MVST). Oppenheimer kept an Outperform rating for the shares in August 2023 and the firm beat its analyst EPS estimates for its second quarter. In 2022, Microvast Holdings, Inc. (NASDAQ:MVST) established a 2 GWh plant in Clarksville, Tennessee.
3. Livent Corporation (NYSE:LTHM)
Livent Corporation (NYSE:LTHM) saw its revenues increase nearly by 100% from $420.4 million in 2021 to $813 million by 2022. Livent Corporation (NYSE:LTHM) has been focused on lithium’s potential for several decades and is among the biggest lithium companies not just in the U.S. but even in the world. Livent Corporation (NYSE:LTHM) has seen its share price fall by nearly 3% YTD, though in just the past five days, its share price has seen double digit growth, after a deal was agreed for the company to combine with Allkem for a new giant expected to be worth
$10.6 billion.
2. BorgWarner Inc. (NYSE:BWA)
BorgWarner Inc. (NYSE:BWA) is one of the biggest automotive companies in America, recording revenue of of $15.8 billion in 2022. In 2023, BorgWarner Inc. (NYSE:BWA) saw its share price decline by over 3%. In 2022, the company purchased Akasol, a major battery producer.
Ariel Investments said the following about BorgWarner Inc. (NYSE:BWA) in its first-quarter 2023 investor letter:
“Several stocks in the portfolio had strong returns in the quarter. Leading supplier of solutions for combustion, hybrid and electric vehicles BorgWarner Inc. (NYSE:BWA) increased following a top- and bottom-line earnings beat, as well as a solid financial guidance for 2023, despite foreign currency headwinds. Meanwhile, BWA continues to successfully execute on its Charging Forward initiative and remains on track to deliver $4 billion in electric vehicle sales by 2025. In our view, BWA’s electric motor and driveline technology offerings position the company to grow intrinsic value throughout the evolution in the hybrid and electric vehicles market.”
1. Tesla, Inc. (NASDAQ:TSLA)
Easily topping the list of the top 12 battery manufacturers in U.S., Tesla, Inc. (NASDAQ:TSLA) may have seen its incredible gain in value mainly due to its electric vehicles manufacturer but its EV infrastructure segment is continuing to grow significantly. In October 2023, Tesla, Inc. (NASDAQ:TSLA) completed a milestone which saw it make its 20 millionth 4680-type battery cell in its Texas factory.
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