China currently has an annual production capacity of around 41 million cars (utilisation rate around 70%, which is below global normal level of 79% - 83%), is expanding its annual production capacity to around 62 million units (additional 21 million cars are mainly for new energy vehicles).
The EV lithium battery producers are highly technical, many small lithium producers are hard to survive, top two: CATL (66.6% up from 48.45% in June) and BYD (12.5%) accounting 79.1% market share in China.
BYD plans to separately list its lithium battery production to supply outside the group.
Global top five/Tier 1 lithium battery producers:
- CATL
- Panasonic/Tesla
- LG
- BYD
- Samsung SDI
Large carmakers and few entrants (like Evergrande) can enjoy upcoming electric vehicle boom.
The five tier 1 lithium battery producers will be benefiting from the EV revolution.
Similarly, large and premium lithium producers will be the winners, imo.
LG Chem To Increase Battery Sales Fivefold By 2024
LG Chem says also that the Battery Business Division "will continue its leadership in the automotive battery business by maintaining its overwhelming technological advantage in the third-generation electric vehicle (500 km or more)".
Depending on the price per kWh, the total sales of batteries in 2024 could be:
Source: LG Chem via evspecifications.com
- $150 per kWh: 178 GWh
- $125 per kWh: 214 GWh
- $100 per kWh: 267 GWh
- $75 per kWh: 356 GWh
https://hotcopper.com.au/posts/39851092/single
Lithium is following iron ore cycle, page-290
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