![]() ![]() The company boasts long-term supply contracts with major battery producers and OEMs like Tesla, Panasonic, LG Chem, Volkswagen, Samsung, and, recently, BMW. The company is unique because it covers a wide swath of the lithium-ion battery supply chain, including lithium resource development, refining & processing (75% of total revenue), battery manufacturing (17% of total revenue), and battery recycling & other (8% of total revenue). Ganfeng is the third-largest lithium compound producer in the world and the leading producer in China. However, the company does not disclose the actual production level in its announcement. Albemarle states that it will fully utilize its exploitation rights with the planned doubling of production. Lithium is extracted on site from brine in the Clayton Valley basin. To strengthen its domestic value chain for the North American EV market, Albemarle is making the aforementioned investment in Silver Peak starting in 2021. ![]() Albemarle will invest $30 million to $50 million to double production there by 2025. In response to growing global demand for EVs, Albemarle announced an increase in capacity at its Silver Peak lithium production facility in the US state of Nevada. Fig 3: Lithium Supply ShareĪlbemarle is a specialty chemicals company headquartered in Charlotte, North Carolina, and employs around 5,000 people worldwide. Albemarle, Ganfeng Lithium, SQM, Tianqi Lithium, and Livent control more than 70% of the world’s lithium supply. The Lithium Supply market is highly oligopolistic in nature. The company recently partnered with Toyota to build a lithium-ion plant in Japan to supply 500,000 EVs starting in 2022. But Panasonic is also expanding its EV battery customer base beyond Tesla. ![]() To date, Panasonic is the sole provider of lithium-ion batteries to Tesla for EVs manufactured in the U.S. As EV manufacturers seek to gain market share from Internal Combustion Engine(ICE) vehicles, reducing battery costs is critical. Currently, a battery represents approximately 29% of the total cost of an EV. ![]() The new format is expected to store more energy and have an easier manufacturing process, two keys to further reducing battery costs. Recently, Panasonic started working on Tesla’s featured battery cell called 4680. In 2014, Panasonic and Tesla partnered to build Giga Nevada, the world’s largest lithium-ion battery factory. Panasonic’s efforts in the EV supply chain are well known, particularly through its relationship with Tesla. Helped by CATL’s cobalt-free lithium iron phosphate (LPF) batteries and local procurement, the Model 3 is the lowest priced premium midsize sedan in China at $36,800. Tesla is currently producing Model 3’s at an annualized rate of 250,000 EVs. In February 2020, the two companies agreed to produce batteries for EVs manufactured at the Gigafactory in Shanghai, Tesla’s second battery megafactory. What distinguishes CATL is that it is the battery maker with the largest number of relationships with OEMs, including Tesla, BMW, Daimler, Geely, Great Wall, Honda, Hyundai, Volkswagen, and NEVS. CATL is a Tier 1 battery producer(battery company), joining the select group of LG Chem, Panasonic, Samsung SDI, Tesla, SK Innovation, and AESC. CATL is the world’s second-largest battery producer=, behind LG Chem. ![]()
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