Cell & Pack Manufacturing

Battery Manufacturing Grows Further Into The Terawatt-Hour-Per-Year Era IN 2024, GLOBAL LITHIUMION BATTERY CELL PRODUCTION REACHED ALMOST

1.5 TWh

There is still significant overcapacity and –in the case of China– overproduction compared to demand

This is the reason for LFPʼs share being higher than in end-use demand

were LFP batteries

were EV batteries

Much of the battery requirements are imported from Asia as most gigafactories in the pipeline outside China are still ramping up

were made in China

The industry remains an oligopoly with the top 3 manufacturers making up 2/3 of output

Source: Content & analysis provided courtesy of CRU Group Distinguished Partner). For more information, visit https://www.crugroup.com. Battery production data from CRUʼs primary data collection, national industry associations, and manufacturer reports. December 2024 data is partially estimated.

Extracted from the PDF; charts and images may read imperfectly.