Welcome back to another edition of my newsletter! - Week 4 2025
In 2024, the battery industry achieved unprecedented milestones. As a result, this post will dive deep into the data to highlight these remarkable achievements.
Summary
The Highlight of the week: The battery supply chain hit new records in 2024.
Battery Industry Pulse: Weekly Roundup.
The Highlight of the week: The battery supply chain hit new records in 2024
I am sharing with you useful data about the battery supply chain. It’s a great way to understand what happened in the industry in 2024.
Before going into details, it’s important to understand the difference between battery production, shipment, and installation.
Production: Making batteries in factories.
Shipment: Transporting batteries to buyers.
Installation: Setting up batteries for use.
PS: The gap between battery production and shipment depends on the inventory movement.
China’s battery exports (Data source: CABIA)
As the primary place of battery production, China produces for its domestic market but also for the rest of the world:
Total Exports: A record 197.1 GWh of batteries were exported from China in 2024, marking a 29.2% year-over-year increase and representing 19% of total sales.
EV batteries accounted for 133.7 GWh (67.8% of total exports), rising 5% compared to 2023 as electric vehicle adoption continues to accelerate.
ESS batteries saw explosive growth, with 63.4 GWh exported, a staggering 151.6% jump year-over-year. It now makes up 32.2% of total exports.
Global battery shipments (Data source: EV Tank)
The global lithium-ion battery shipments increased by 29% in 2024.
It reached 1545 Gwh in 2024.
The EV market represents most of it. However, the ESS market showed higher growth.
Here's the breakdown:
LIB EV shipments: 1051 Gwh (+22% increase YoY).
LIB ESS shipments: 370 Gwh (+65% increase YoY).
LIB CE & other shipments: 124 Gwh (+9.6% increase YoY).
China accounts for 79% of global LIB battery shipments, which is unsurprising. I often emphasize China's leading role in the battery industry.
China's shipments of sodium-ion batteries have more than doubled to 2GWh in 2024 from 0.7GWh in 2023.
EVTank predicts that the global lithium-ion battery shipments will reach 1899.3GWh and 5127.3GWh in 2025 and 2030, respectively.
China’s Components shipments (Source: GGII)
A long-term strategy has allowed China to build an entire battery supply chain.
Not only does China produce the majority of batteries, but it also manufactures its components and raw materials.
Here’s what happened in 2024:
Cathode shipments reached 3.35 million tons, up 35% year-on-year. Lithium iron phosphate materials dominated with 2.46 million tons (49% growth), accounting for 74% of cathode shipments.
Anode shipments were 2.08 million tons, a year-on-year increase of 26%, of which artificial graphite and natural graphite materials were 1.81 million tons and 260,000 tons respectively.
Separator shipment reached 22.3 billion square meters, a year-on-year increase of 30%. Wet separator shipments achieved 17.3 billion square meters (+39%), and dry separator shipments hit 5 billion square meters (+6%).
Electrolyte shipments hit 1.47 million tons in 2024, a year-on-year increase of 32%.
Global battery installations (Data source: Rho Motion and CABIA)
Global lithium-ion battery installations surged 27% year-on-year to 1.2 TWh, driven by record EV sales and booming energy storage:
EVs: 17.1 million units were sold globally, generating nearly 900 GWh of demand, with China leading at 50%. Larger battery pack sizes boosted demand growth beyond unit sales.
BESS: energy storage grew 53% YoY, with nearly 200 GWh deployed globally, driven by grid-scale installations.
LFP is leading the way with 50% increase YoY. In the NMC space, the market is moving towards high-nickel batteries (+21% YoY vs +2% for mid-nickel)
In China, LFP batteries have 75% market share in the EV market.
CATL ranked first in China's EV battery installed capacity with 246.01 GWh and 45.08 percent share in 2024.
The key takeaways from this data are:
China continues to lead the battery supply chain, producing the majority of batteries, components, and raw materials.
LFP battery chemistry increases its dominance over NMC in China and expands globally.
The EV market still accounts for the largest share of battery demand.
The ESS market is a fast-growing market with a lot of potential.
Europe and the USA remain significantly behind. They still have significant efforts to make to catch up.
Now, let’s look at this week's battery market developments.
Battery Industry Pulse: Weekly Roundup
Metals
Zimbabwe's state-owned Kuvimba Mining House expects to finalise this month a deal agreed with two Chinese companies - link
Stardust Power officially broke ground on its lithium refinery at the Southside Industrial Park in Muskogee, Oklahoma - link
Components
NEO Battery Materials will lease 8 acres in Canada to construct a commercial plant capable of producing 5,000 tons of silicon anodes annually - link
Battery
Varta takeover approved as court rejects objections - link
CATL is expected to unveil a new joint venture factory with other automakers in Europe this year - link
Korean battery firms make record investments in 2024 amid EV slowdown - link
Nissan has announced the location for its LFP battery factory, announced last year - link
LG Energy Solution has ranked 12th on the list of 100 Most Sustainable Corporations in the World 2025 - link
SES AI signs contracts totaling up to $10 million to develop AI-enhanced Li-Metal and Li-ion batteries - link
Forge Battery finalized award negotiations for $100M in non-dilutive funding by the Department of Energy’s Office - link
ProLogium has successfully obtained a construction permit and an environmental permit for its Gigafactory in Dunkirk, France - link
According to Nikkei, Nissan has signed a battery supply deal with SK On - link
Battery recycling
Altilium has received an investment of $5 million from the Japanese trading group Marubeni - link
BESS
Quinbrook has closed a AUD$722 million new debt financing for stages 1 and 2 of its ‘Supernode’ battery storage project in Queensland - link
Passengers EVs
BYD launched the world’s largest vehicle RoRo vessel, which can accommodate up to 9,200 cars - link
Renault opens R&D centre in China - link
Tesla Model Y Juniper available to order in Europe - link
JSW Group will invest $34.67 billion in the Indian state of Maharashtra to expand the conglomerate’s presence in electric vehicles, batteries, steel, and green energy sectors. - link
Charging infrastructure
Nio sees over 100,000 battery swap services in single day - link
Don’t hesitate to leave a comment or reply to this email to share your feedback. My goal is to make the best newsletter for you.
So in other words China exporting coal