EV Battery Stocks List

CATL (Contemporary Amperex Technology Co., Limited) is the world's largest EV battery manufacturer, with a 39.2% share of global EV-battery usage in 2025 (SNE Research), its ninth consecutive year at number one, and the top ranking in energy-storage battery shipments for five years running. Its China domestic “power battery” share is higher, around 43%. FY2025 revenue was RMB 423.7 billion (+17% YoY) on 661 GWh of battery sales, split roughly 540 GWh power and 121 GWh storage. The company reported 24 battery factories worldwide and 772 GWh of year-end production capacity, with a further 321 GWh under construction. European production runs through Erfurt, Germany and Debrecen, Hungary, while the Zaragoza, Spain plant is a Stellantis joint venture that broke ground in November 2025 and targets production from end-2026. Headline products span the Shenxing superfast-charging LFP cell, the Naxtra sodium-ion battery (launched 2025) and the TENER utility-scale storage platform.

BYD began as a rechargeable-battery maker in 1995, eight years before entering the vehicle business. Its battery arm, FinDreams Battery, was the world's second-largest EV battery supplier by volume in 2025, with about 16% of global usage according to SNE Research.

The Blade Battery, an LFP cell-to-pack design, is BYD's main commercial battery and is used throughout its own vehicle range. External customers include Toyota, through the BYD-Toyota joint venture, and BorgWarner. BYD sold about 4.6 million new-energy vehicles, comprising BEVs and plug-in hybrids, in 2025. It also ranked first globally in energy-storage-system shipments that year, supported by a 12.5 GWh Saudi Electricity Company contract and the Haohan utility-scale platform.

FY2025 net profit fell about 19% to RMB 32.6 billion, its first annual decline since 2021, as the domestic vehicle price war compressed margins.

Panasonic Holdings' battery business (Panasonic Energy) is Tesla's longest-standing cylindrical-cell partner and, on its own estimate, holds roughly 80% of the market for Battery Backup Units (BBUs) that power hyperscaler AI data centers, a fast-emerging growth driver. The Kansas plant (De Soto) began mass production of 2170 cells in July 2025 and is ramping toward about 32 GWh of annual capacity. It is Panasonic Energy's second North American EV-battery factory after Gigafactory Nevada, but unlike Nevada — which supplies Tesla — Kansas is run as a multi-customer site, with Lucid and Mazda among the named customers. The Energy segment generated about ¥873 billion of FY3/2025 sales within the much larger diversified group, and Panasonic says more than 80% of its targeted FY3/2029 data-center storage sales are already committed to customers. In the quarter ended June 2026 management attributed the in-vehicle battery result primarily to Kansas ramp-up costs and US tariffs, with North American cell volumes of 10.2 GWh, while data-centre storage sales reached ¥113 billion, 1.9 times the year-earlier quarter.

LG Energy Solution is the world's third-largest EV battery manufacturer, with about 9% of global EV-battery usage in 2025 (SNE Research). It produces pouch and cylindrical cells at scale today and has said it will become the first global maker to offer all three formats once its prismatic (LMR) cells reach US pre-production around late 2027 and commercial production in 2028. LGES is a major beneficiary of US Inflation Reduction Act manufacturing credits, which added about KRW 1,647 billion to FY2025 results; because that credit exceeded its FY2025 operating profit, underlying battery operations were loss-making without it. Key wins include a 440+ GWh order backlog for its 46-series cylindrical platform (spanning multiple sizes and customers, from 4680 to 46120) and a roughly 140 GWh energy-storage order backlog, with a global ESS capacity target of 60+ GWh by end-2026. LGES posted an operating loss in Q1 2026 as North American pouch volumes fell on OEM destocking, then reported KRW 113.3 billion of operating profit in Q2 2026 as energy-storage volumes ramped in North America. That figure included KRW 241 billion of North American production incentives; excluding them the quarter was a KRW 127.7 billion operating loss, and the net line was a KRW 329 billion loss. Parent LG Chem retains majority control.

Samsung SDI focuses primarily on prismatic and cylindrical cells and sits at the premium end of the market: BMW (i4, i5, i7, iX), Audi (Q6/Q8 e-tron), Rivian (R1S, R1T) and Stellantis (Jeep Wagoneer S). In the first half of 2026 the company added Mercedes-Benz as a new EU customer, completing a customer set that spans Germany's three premium automotive brands. Its global EV-battery usage share was about 2.4% in 2025 (SNE Research), ranking ninth. North American expansion runs through two joint ventures in Indiana: StarPlus Energy with Stellantis (Kokomo, in production) and a plant with GM (New Carlisle, mass production targeted 2027). Samsung SDI has guided a 2027 mass-production target for all-solid-state batteries. The Electronic Materials division supplies OLED and semiconductor materials. FY2025 revenue fell to KRW 13.27 trillion (-20% YoY) with an operating loss of KRW 1.72 trillion on EV-market softness and US ramp-up costs. Group operating profit returned to positive in Q2 2026 at KRW 203.8 billion, the first quarterly operating profit in seven quarters.

EVE Energy is one of the world's top-ten EV battery cell makers and a fast-growing competitor in energy storage, with a broader product range than most peers, covering primary lithium batteries, consumer Li-ion, and the full EV format set (prismatic LFP/NCM, pouch NCM, large cylindrical). It secured a 46-series cylindrical contract for BMW's Neue Klasse platform alongside supply to Daimler Truck (eActros), Punch Powertrain and Cummins. Its Malaysia plant is EVE's first overseas battery production base, supporting non-Chinese OEM sourcing. FY2025 revenue was CNY 61.5 billion (+26% YoY) with net profit of CNY 4.1 billion; power-battery shipments rose 66% to about 50 GWh and storage shipments grew 41% to about 71 GWh, ranking EVE second globally in energy-storage battery shipments in 2025 (EVTank; third on InfoLink's methodology).

Sumitomo Metal Mining (SMM) is a diversified Japanese mining and metals group whose materials business is one of the world's largest producers of nickel-cobalt-aluminum (NCA) cathode active material, the chemistry used in Panasonic cells supplied to Tesla. SMM runs an integrated nickel chain: it operates the Taganito HPAL processing plant in the Philippines (75%-owned, producing mixed nickel-cobalt sulfide) and sources ore from Nickel Asia's Taganito mine, through smelting and refining to finished cathode powder. Niihama-area NCA cathode capacity was expanded to about 84,000 tonnes per year in 2025, with a plan for roughly 120,000 t/y in FY2027 and 180,000 t/y in FY2030 — a roadmap SMM cautions could see capacity dip during the transition from NCA to high-nickel NMC. Materials is a minority of group sales — mineral resources (copper, nickel, gold) and smelting drive most earnings — so the stock is at least as exposed to base-metals prices as to battery demand. Toyota holds about a 4.0% stake.

SK Innovation (096770.KS) is the listed parent; its EV batteries are made by unlisted subsidiary SK On. After the 2024 SK E&S merger the group had about KRW 105.6 trillion in total assets, with batteries a minority of revenue. SK On was the world's sixth-largest EV battery maker in 2025 at about 3.7% global usage share (SNE Research), behind CATL, BYD, LGES, CALB and Gotion. Customers include Hyundai, Volkswagen and Nissan (a 99.4 GWh supply agreement signed in Q1 2025, though under review in 2026 as Nissan's EV plans slowed). In May 2026 SK On completed the restructuring of its BlueOvalSK venture with Ford, taking sole ownership of the Tennessee (BlueOval City) plant while Ford retained the Kentucky plants; SK On's first LFP line, for energy storage, is targeted for the second half of 2026. SK Innovation posted a full-year 2025 net loss. Separator films sit in the separately listed affiliate SK IE Technology (SKIET).

Guangzhou Tinci Materials is a Chinese specialty chemicals group whose largest business is lithium-ion battery electrolyte, the liquid that carries lithium ions between a cell's anode and cathode. Its principal advantage is vertical integration. Tinci manufactures lithium hexafluorophosphate (LiPF6), the salt that accounts for much of electrolyte input cost, at its Jiujiang base in Jiangxi instead of relying entirely on third-party supply. This can widen its advantage over non-integrated formulators when salt prices rise and compress it when they fall. The company also makes electrolyte additives and has expanded into lithium iron phosphate cathode material.

Electrolyte is generally more price-sensitive and less capital-intensive than separator film or cathode material. Formulations are customer-specific and take time to qualify, but sustained Chinese capacity additions through the early 2020s left the market well supplied. Tinci is therefore particularly sensitive to cell-production volumes and the LiPF6 price cycle. A legacy personal-care chemicals division remains, although battery materials now provide the main earnings exposure.

POSCO Future M is South Korea's largest battery-materials maker and, by its own description, the only Korean company producing both cathode active materials (NCM/NCA) and anode materials (natural and artificial graphite) at scale.

The company had announced about KRW 92 trillion of cumulative cathode contracts by 2023. That total included a KRW 40 trillion, 10-year agreement with Samsung SDI plus contracts with LG Energy Solution and Ultium Cells, the LG-GM joint venture. These are announced contract values, not a current order backlog. Anode agreements include a roughly KRW 671 billion (about $470 million), four-year contract with an unnamed global automaker announced in October 2025 and a KRW 1 trillion artificial-graphite order announced in March 2026.

POSCO Future M also operates the Ultium CAM cathode joint venture with General Motors in Bécancour, Quebec. Its legacy refractories and lime businesses remain profitable but are small relative to battery materials.

Hunan Yuneng New Energy Battery Material is among the largest producers of lithium iron phosphate (LFP) cathode active material. LFP has displaced nickel-based cathodes across much of Chinese EV and stationary-storage battery deployment. It offers lower cost, longer cycle life and better thermal stability in exchange for lower energy density, and contains neither nickel nor cobalt.

Yuneng's exposure is overwhelmingly tied to LFP demand and to its two largest customers, CATL and BYD. Together they generated just over 80% of FY2022 revenue, the concentration disclosed around the company's listing and the latest figure it has published on the subject. Customer concentration is therefore the principal company-specific risk.

The company listed on Shenzhen's ChiNext board in February 2023. Its development work includes lithium manganese iron phosphate (LMFP), which is intended to raise voltage and energy density while retaining LFP's nickel-free and cobalt-free material profile.

Shenzhen Kedali Industry makes the precision structural components that hold lithium-ion cells together: prismatic aluminium and steel casings, top caps, safety vents and rupture discs. Its results depend on manufacturing precision, production volume and customer-specific tooling rather than battery chemistry or raw-material prices.

Kedali competes on stamping and deep-drawing tolerances, weld quality and cost per unit at high volume. Revenue is concentrated among a small number of large customers, led by CATL. Tooling and component designs are specific to each cell format and customer, so changes in format preference can affect demand. Kedali supplies parts for both prismatic and cylindrical programmes, spreading that exposure across the two formats.

The company has followed its customers overseas, operating component plants in Sweden, Germany and Hungary and announcing a US plant in Indiana in May 2024. These facilities are normally located close to cell plants because structural parts are bulky and relatively expensive to ship.

Yunnan Energy New Material, known internationally as Semcorp, is the largest producer of wet-process lithium-ion battery separator film. The porous membrane keeps the anode and cathode apart while allowing lithium ions to pass. Separator production is capital-intensive and technically demanding, requiring precision film extrusion and stretching, ceramic and polymer coating, and multi-year customer qualification.

Semcorp developed its film expertise in packaging materials before entering battery separator through its Shanghai Enjie subsidiary. This history explains why some data providers still classify it as a packaging company. Its customers include major Chinese and international cell manufacturers.

The company has pursued separator capacity in Europe and North America, announcing a plant in Sidney, Ohio, in May 2022 and building its first overseas plant in Debrecen, Hungary. The Debrecen site is now its largest operating risk. The environmental authority suspended test operations at part of the site in June 2025 over emissions exceedances and ordered a full temporary suspension on 24 June 2026 after finding groundwater contamination and permit breaches. Semcorp said in July 2026 that it was complying with the order while investigating and carrying out remediation. The operating and remediation timetable remained unresolved in August 2026.

The overseas expansion adds trade-policy and permitting risks that do not apply to Semcorp's domestic plants. High fixed costs also make factory utilisation a major influence on separator margins.

EcoPro BM is South Korea's largest cathode active-materials producer and a major supplier of high-nickel NCA cathodes. Benchmark Mineral Intelligence estimates that it accounts for about 34% of global NCA output.

Samsung SDI is its largest customer. In December 2023 the companies signed an NCA supply agreement with an estimated value of roughly KRW 44 trillion (about $34 billion) for 2024-2028. The estimate changes with raw-material prices and should not be treated as a fixed cash backlog.

EcoPro BM began commercial production at its Debrecen, Hungary plant in the first half of 2026. Initial capacity is 54,000 tonnes a year, with potential expansion toward 108,000 tonnes. A second international plant is planned in Ontario, Canada. EcoPro BM was spun off from parent EcoPro Co. in 2016.

Gotion High-Tech ranked fifth in global EV battery usage in 2025, with about 4.5% of the market according to SNE Research. Volkswagen Group China was its largest shareholder at about 24.5% in 2025, diluted from approximately 26% in 2021.

Volkswagen intends to use its unified prismatic cell design in up to about 80% of group EV models by 2030. This is a target for adoption of the cell design, not a commitment to source 80% of Volkswagen's batteries from Gotion. Gotion is one supplier of the standard cell and began mass-producing it at the Hefei plant in November 2025 under a 2026-2032 contract.

Other customers include Chery, SAIC-Wuling, JAC, Chang'an and Leapmotor, while Huawei is a major energy-storage customer. Gotion's Göttingen site in Germany has produced battery packs since September 2023 and began mass production of a 5 MWh storage unit in 2025. Its product mix is weighted toward LFP, with growing stationary-storage exposure. The company was founded in Hefei in 2006.

Shenzhen Capchem Technology makes lithium-ion battery electrolytes and additives. It is more diversified than the other large Chinese electrolyte supplier on this list, Tinci. Capchem also produces capacitor chemicals, semiconductor process chemicals and organic fluorine compounds, reducing its dependence on any single battery-material cycle.

Electrolyte profitability is influenced by control of lithium salt and additive inputs, which account for much of the finished product's cost. Capchem combines additive-formulation expertise, backward integration and manufacturing scale, while its plants require less capital than separator or cathode facilities. The non-battery chemical businesses provide some protection during electrolyte downturns, although they also reduce the benefit to group earnings when the electrolyte market recovers.

Umicore is a Belgian materials group with battery exposure through its Battery Materials segment, producing cathode active materials (CAM) and precursors (pCAM), primarily high-nickel NMC. It is one of several major non-Chinese CAM producers, alongside names such as POSCO Future M, EcoPro BM, L&F and Sumitomo Metal Mining. The IONWAY joint venture with Volkswagen's PowerCo is its centerpiece European initiative; Umicore contributed about €425 million to it in stages (€250 million in 2025 and €175 million in January 2026). Battery Materials remains under a management “value recovery” plan after EV-demand softness, while the foundation businesses — Catalysis (automotive emissions control) and Recycling (precious-metals refining) — generated most of the €847 million FY2025 adjusted EBITDA (+11%) on €3.6 billion of revenue (reported excluding metals). Net financial debt was about €1.4 billion at the end of 2025, helped by a sale of gold inventories. In the first half of 2026 Battery Cathode Materials returned to a positive adjusted EBITDA of €19 million, against a €15 million loss in the first half of 2025, on sales volumes level with 2025 and revenues that mainly reflected accruals for take-or-pay compensation on contractual volumes.

CNGR Advanced Material is one of the largest producers of cathode precursor material (pCAM), the nickel-cobalt-manganese intermediate that cathode makers convert into finished active material. Precursor sits between refined metal and cathode, and its composition strongly influences the chemistry of the finished cell, which makes this the point in the chain where nickel and cobalt supply security converts into cathode competitiveness.

CNGR's strategy has leaned toward integrating backwards into that raw-material supply, principally through nickel processing capacity in Indonesia, where it has been investing since 2021 in nickel matte and intermediate production at the Morowali industrial park, converting laterite ore into battery-grade feedstock. It has also pursued capacity outside China to serve cathode and cell plants in Europe and North America, though non-Chinese geography does not by itself satisfy US prohibited-foreign-entity ownership and control tests, so credit eligibility has to be assessed separately. Because precursor is priced off nickel and cobalt, earnings carry direct base-metals exposure stacked on top of cell-demand exposure, which makes this a more cyclical holding than its position in the chain alone would suggest.

Sunwoda Electronic is a diversified Chinese battery maker spanning consumer Li-ion (phones, laptops, smartwatches), its original and still-large segment, alongside EV power batteries and energy storage. Consumer customers include Apple, Huawei and Xiaomi; EV customers span Renault, Geely, Dongfeng, Nio, Volvo and Volkswagen. In FY2024 consumer batteries were about 54% of revenue and EV batteries about 27%, a mix that has since tilted further toward EV and storage. In 2025 Sunwoda held roughly 3% of China's EV-battery installations, ranking around sixth or seventh domestically, and sat just outside SNE Research's full-year 2025 global top ten (reaching tenth globally in Q1 2026). Sunwoda Energy is expanding in European storage. FY2025 revenue was about CNY 67 billion, though net margins remain thin amid intense EV-cell price competition.

GEM Co operates at both ends of the battery-materials loop. It is one of China's largest recyclers of spent lithium-ion batteries and electronic waste, an activity the company calls urban mining. GEM refines recovered nickel, cobalt and lithium into cathode precursor material that can return to cell production, putting it in competition with dedicated precursor manufacturers.

Recycling margins depend on the value of recovered metals relative to collection and processing costs. They generally improve when nickel, cobalt and lithium prices rise and narrow when prices fall. End-of-life battery volumes also lag EV sales by many years, so production scrap from cell plants remains an important source of near-term feedstock.

GEM supplements recycled material with primary nickel processing in Indonesia through the QMB New Energy Materials joint venture at the Morowali industrial park. This gives the company access to additional nickel feedstock, but means its results do not depend solely on recycling.

QuantumScape is a pre-revenue R&D company developing solid-state lithium-metal battery cells. It uses a capital-light licensing model under which partners build the factories and QuantumScape supplies the technology. The QSE-5 cell uses a proprietary ceramic separator and an anode-free architecture, targeting more than 800 Wh/L and a 10-80% charge in about 12 minutes based on company-reported testing.

Volkswagen Group, which held about 25.2% of the voting interest in late 2025, is the lead partner through its PowerCo subsidiary. Their licence covers an initial 40 GWh of annual production capacity and may be expanded to 80 GWh. QuantumScape's Cobra separator process, which uses heat treatment about 25 times faster than the previous process, reached baseline production in 2025.

B-sample cells powered a Ducati V21L demonstration motorcycle at IAA Mobility in September 2025. QuantumScape has not announced a commercial vehicle deployment. Its San Jose Eagle pilot line is ramping, and in June 2026 the company signed a multi-year joint research agreement with Honda R&D following a technology evaluation. That agreement covers research; no production award has been announced.

The Q2 2026 GAAP net loss was about $98.2 million and the adjusted EBITDA loss was about $64.2 million. Full-year adjusted EBITDA loss guidance remained $250-275 million.

L&F is South Korea's third-largest cathode active materials producer (after POSCO Future M and EcoPro BM) and a specialist in high-nickel NCM cathodes, supplying mainly LG Energy Solution and SK On. A large direct Tesla cathode supply contract, once projected at about $2.9 billion for 2024-2025, was cut to just $7,386 in a December 2025 disclosure that cited a change in expected supply volume. L&F is moving into LFP cathodes for the cost-sensitive market through its own wholly-owned plant, with mass production targeted for the second half of 2026 (about 30,000 t/y, scaling toward 60,000). FY2025 revenue rose about 13% to KRW 2.15 trillion and the operating loss narrowed about 72% to KRW 156.8 billion, with a KRW 82.4 billion operating profit in Q4 as high-nickel shipments recovered. L&F is also pursuing North American localization; Section 45X is earned only on qualifying US production, so North American capacity does not by itself earn the credit. Founded 2000, headquartered in Daegu.

Amprius Technologies makes high-energy silicon-anode lithium-ion cells across two platforms. SiMaxx is its proprietary 100% silicon-nanowire cell, manufactured in-house in Fremont, California. SiCore uses a separate silicon-anode system that partners can manufacture on existing lithium-ion production lines.

Headline products reach about 450 Wh/kg and 1,150 Wh/L, which the company says provides up to approximately 80% more energy than conventional graphite cells. Amprius currently focuses on aviation, including drones and high-altitude platforms, as well as defence and light electric mobility. It is not yet targeting mass-market EV production. Customers include AeroVironment, Airbus and undisclosed US defence programmes.

Contract manufacturing in South Korea supported a sharp improvement in revenue and profitability. FY2025 revenue roughly tripled to about $73 million, with positive adjusted EBITDA in the fourth quarter. H1 2026 revenue reached $62.6 million, up 137% year over year, including Q2 revenue of $34.0 million at a 27% gross margin. Amprius was founded in 2008 and employs roughly 110 people.

Enovix designs high-energy lithium-ion batteries using a proprietary 3D architecture and a 100% active-silicon anode engineered to contain silicon's expansion. Its AI-1 cell reached an independently verified 935 Wh/L, about 12% above a leading commercially available comparison cell. AI-1 remained in smartphone-OEM qualification during 2026 and had not entered commercial production.

The company's current commercial focus is consumer electronics, including smartphones and smart eyewear, plus drones and defence. Its silicon-anode technology may also have future EV applications. The separate MX-1 product uses a silicon-enhanced, graphite-anode architecture manufactured in Korea. A 360 Wh/kg drone cell is shipping, and Enovix is targeting 400 Wh/kg in 2027.

Enovix manufactures at Fab2 in Malaysia and in Korea, with R&D operations in India. Q1 2026 revenue was $7.6 million, up 49% year over year, and the company reported $583 million of cash, cash equivalents and marketable securities.

Solid Power is a development-stage producer of sulfide-based solid electrolyte for solid-state cells. Its business model centres on licensing battery processes and supplying electrolyte to partners that manufacture the cells. BMW remains a core EV partner.

The company's relationship with SK On advanced during 2025 and 2026 as pilot-line equipment passed factory and site-acceptance testing at SK On's facility. The Line Installation Agreement was completed in Q2 2026, and a new collaboration agreement was under negotiation in August 2026. Solid Power also has a joint evaluation agreement with Samsung SDI and BMW covering electrolyte supply.

A continuous sulfide-electrolyte line with capacity of 45 tonnes a year is targeted for commissioning by the end of 2026. H1 2026 revenue and grant income totalled $2.8 million, with an operating loss of $56.6 million. Liquidity stood at $419.3 million on 30 June 2026 after a $130 million registered direct offering in January, which produced about $121 million of net proceeds. Solid Power was founded in Louisville, Colorado, in 2011.

SES AI is a lithium-metal battery developer that no longer supplies the automotive market. It was founded in 2012 to commercialise Li-Metal cells for electric vehicles and reached the market through a SPAC merger in February 2022, working under joint development agreements with Hyundai, General Motors and Honda. Those agreements ran through A-sample and B-sample stages and have all now ended: the GM agreement concluded in September 2024, and both the Hyundai and Honda agreements concluded in December 2025. Service revenue from OEM contracts consequently fell from $13.6 million in FY2025 to $0.3 million in the first half of 2026.

What remains is the technology. SES held 103 granted patents with expiry dates from 2030 to 2042, more than 80 pending applications and 40 trade secrets at 31 December 2025, covering cell design, electrolyte formulation, lithium foil production, separator composition and battery management. Two cell lines originally built as EV A-sample lines have been converted to drone and Urban Air Mobility production, and the Chungju plant in South Korea now makes NDAA-compliant pouch cells, scaling from 200,000 to 1 million cells a year during 2026. The company signed a framework agreement in Q2 2026 to design the battery pack for Doroni's H1-X two-seat eVTOL.

Revenue today comes from energy storage systems, drone cells, battery materials and the Molecular Universe materials-discovery software platform. Q2 2026 revenue was $5.1 million at a 22.6% gross margin, with a net loss of $17.9 million; cash and short-term investments were $163.0 million at 30 June 2026. Companies named as competitors in the FY2025 annual report include Amprius, QuantumScape, Solid Power and Enovix in drone and robotics cells.