5 The World's Biggest Electric Car Factory, One Of Which Has Invested In Indonesia

Electric car lustration. (photo: Twitter @NIOGlobal)

YOGYAKARTA Not long ago, two companies from South Korea, Hyundai and LG agreed to invest in Indonesia by building an electric car battery factory in Karawang.

Based on Yonhap's report, Hyundai Motor Group and LG Energy Solution (LGES) Ltd have received loans and guarantees of US$710 million or Rp. 10.5 trillion. The funds will be used by Hyundai and LG to set up a battery cell factory in Indonesia.

Regardless of all, currently there are five main players who are the electric car battery producers in the world. Who are the 5 producers?

Quoted by VOI from Saur Energy, the battery company currently occupies the top 5 electric battery producers in the world, including CATL, LG, Panasonic, BYD, and SK ON.

A complete explanation of the five electric car battery manufacturers can be seen through the review below:

1. Contemporary Amperex Technology Co. Ltd

Contemporary Amperex Technology Co. Ltd (CATL) is a Chinese battery manufacturer that dominates the world's electric vehicle battery market.

Ningje-based technology company Fujian grew very impressively in 2021.

Based on Bloomberg records, CATL managed to control 35 percent of the world's automated lithium-ion battery market share. The company is focusing on manufacturing lithium-ion batteries for electric vehicles and energy storage systems, as well as battery management systems.

CATL, which is an electric vehicle (EV) battery supplier made by Tesla and Volkswagen, has developed other battery technologies such as sodium-ion cells as well as EV battery exchange brands.

2. LG Energy Solution

LG Energy Solution (LGES) is in second place with the world's largest electric battery producer. LG has accounted for 15.9 percent of global EV batteries.

This year, LG together with Hyundai, spent trillions of rupiah to build an electric car battery factory in Indonesia.

3. Panasonic

The Japanese company is a supplier of battery cells for hybrid, plug-in hybrid, and full-electric vehicle lanes.

Panasonic is the third largest electric battery manufacturer and controls 12.2 percent of the market share.

The Kadoma-based company will supply lithium-ion batteries for Tesla in early 2023.

In October 2021, Panasonic has launched a 4680 (wide 46 millimeters and 80 millimeters high) format battery. Panasonic produces 4680 batteries in a padruk in Wakayama's prefeature in western Japan.

4. BYD

BYD Automobile Co. Ltd is a Chinese battery manufacturer that controls 8.8 world electric vehicle battery market share.

In 2022, this Chinese company released a Revolutionary Blade battery that carries LFP technology. FLP technology on EV batteries has lower energy density than other lithium-ion cells and is cheaper in terms of cost.

The Lithium Iron Phospate battery has a longer shelf life, is not vulnerable to overheating and does not use cobalt or nickel.

5. SK ON

Similar to BYD, SK IN also adapts LFP batteries for electric vehicles. SK ON controls 5.6 percent of global EV batteries. The company offers the world's 17 GWh EV battery capacity.

These are the five manufacturers that control the world's electric car battery market share. Of the five electric car battery factories, there is one producer who has invested in Indonesia, namely LG and will produce battery cells worth 10 gigawat hours per year.