Next generation advanced batteries are cost-effective and energy-efficient alternatives to traditional lithium-ion batteries. As well as offering speedy charging and a desirable shelf-life, advanced batteries also play a key role in the green revolution. Electric vehicles – among various other consumer electronics – wouldn’t be feasible without them.
Advanced batteries are expected to experience a huge surge in demand over the coming years, which will cause the market to boom. BCC Research expects the market for next-generation advanced batteries to reach $1.8 billion by 2027, growing at a staggering CAGR of 83.5%. As the market expands competition will stiffen, so innovation and product development are top priorities for players. Battery minerals, battery cases and electrode types are accounting for most new product developments. But who are the companies working within this cut-throat landscape?
There are lots of companies making a stamp on the market, and the list below highlights just a few of those players.
BrightVolt aims to make the world a better place by developing better battery chemistry. BrightVolt is a leading manufacturer of batteries with an innovative Research and Development Center in Indiana and corporate headquarters in Redmond, Washington. All applications, including hybrid and electric cars, consumer electronics like smartphones, laptops, eReaders, drones, medical and wearable devices, and other information technology goods, can be powered by its rechargeable solid-state batteries. Batteries made with its unique Polymer Matrix Electrolyte (PME) technology have a 25% higher energy density than those made with standard Lithium-ion batteries while being safer, cleaner, and more ecologically friendly, all at a lower overall cost of production.
Chinese battery maker Contemporary Amperex Technology, also known as CATL, was established in 2011 and focuses on producing lithium-ion batteries for electric vehicles, energy storage systems, and battery management systems (BMS). The world’s largest producer of lithium-ion batteries for Evs is CATL, which produced 96.7 GWh of the 296.8 GWh total, an increase of 167.5% annually.
By 2025 and 2030, the company aims to produce more than 500 Gwh and 800 Gwh, respectively. The business unveiled a sodium-ion battery for the automobile industry in 2021. It is expected to recover sodium materials at a battery recycling facility.
Ford made a purchase announcement in July 2022 for CATL batteries for the Ford Mustang Mach-E and Ford F-150 Lightning vehicles. To increase its global footprint and deliver skateboard chassis for Evs, CATL will expand its agreement with Vinfast in October 2022.
GP Batteries develops, manufactures, and markets batteries and battery-related products. Since its founding, GP Batteries has grown quickly to be one of China’s top consumer battery producers and to rank among the top producers globally. Under its GP brand name provides battery products to original equipment manufacturers, top battery businesses, and consumer retail sectors.