EV Battery Industry Procurement Intelligence Study: Increasing Fuel Prices & Rising Adoption Of Electric Vehicles Has Propelled The Need For Procurement Of Electric Vehicle Batteries | Grand View Research, Inc.


The global EV battery market is expected to witness sustainable growth (CAGR of 16%) from 2020 to 2025 due to the rising demand for electric vehicles across the world. The continuous rise in the adoption of electric vehicles due to the COVID-19 pandemic and the high fuel prices has increased the need for new technology development across the electric vehicle battery market. A startup EV battery manufacturer QuantumScape, funded by the likes of Volkswagen, has raised USD 1.5 billion intending to manufacture low-cost batteries that could lead to electric vehicles with significantly longer ranges, are safer to operate, boast longer lifespans and support faster charging. Rather than using the industry-standard mixed-metal cathode as the separator, QuantumScape has developed a solid ceramic separator. The battery is manufactured without the anode and the electrolyte making it more compact, more energy-dense, and safer to operate. When the battery is charged and discharged, the lithium metal moves through the separator and creates a thin layer of a lithium-metal anode. By using this battery, an electric vehicle could charge to 80% of capacity in 15 minutes compared to the conventional hour-long charging times.

Another EV battery manufacturer OneD Battery Sciences has created SINANODE, which integrates into existing manufacturing processes, tripling the energy density of the anode while reducing its cost per kWh by half. The higher energy density increases battery range while nanowires reduce the charging time. Leading graphite suppliers, battery and electric vehicle manufactures in the U.S., Europe, and Asia, have tested SINANODE by applying the technology to commercial EV-grade graphite used in the anodes of EV batteries. SINANODE was developed with commercial manufacturing CVD equipment available from multiple vendors, using only silane and nitrogen gases. This reduces the investments and time necessary to scale up the SINANODE step to EV quantities, while decreasing the cost of EV anodes by almost 50%, compared to the cost of most of the anodes used in EV batteries today.

Electric Vehicle Battery Industry Procurement Intelligence report, by Grand View Research, deep dives into the following insights from the industry:

  • Growing adoption of electric vehicles is aiding to the growth of EV battery market

the Government of India is planning to set up 69,000 charging stations across the country by 2030. Moreover, the increasing efficiency starting from charging station set-ups to fast charging of the electric vehicle is expected to create a significant growth opportunity for the market in near future. With the growing requirement for EV batteries, the suppliers are finding newer sourcing and procurement methods for optimizing the cost of manufacturing, reducing the volatility of obtaining raw materials, and improving profitability.

  • The global EV battery market is fragmented and competitive, with many large suppliers collaborating with mid-sized or small-sized companies to leverage their regional manufacturing capabilities

Leading EV battery suppliers are mostly manufacturing EV batteries for their in-house charging infrastructure development. Hence, the competition is particularly high among the smaller regional EV battery suppliers. An increase in mergers and acquisitions, coupled with diffused customer concentration, has enabled the EV battery suppliers to secure add-on offerings to realize growth in new geographies.

  • Raw material costs make up the bulk of the cost head. The total cost of ownership is significantly influenced by the cost of integrating the battery in the electric vehicle. – Raw materials, including lithium, graphite, MN+Li+Co, are the biggest cost component of EV battery manufacturing; accounting for more than 60% of the total cost.
  • The Asia Pacific region holds the highest share of the global EV battery market, thanks to China’s position as the leading sourcing destination due to its low cost of labor. – The majority of the big players in the market are based out of APAC. It is also the fastest-growing market, owing to the supportive policies of China’s government and the development of China as the global EV battery manufacturing hub. However, the majority of the EV battery produced in China are sold to domestic electric vehicle manufacturing companies.

EV Battery Industry – Cost Intelligence Highlights:

Grand View Research has identified the following key cost components for EV Battery Industry:

  • Raw Materials
  • Lithium
  • Separator
  • Graphite
  • Mn+Li+Co
  • Others
  • Energy
  • Labor
  • O&M, Insurance
  • SG&A Overheads and R&D
  • Working Capital
  • Taxes
  • Profit

Raw material cost, the major cost component of an EV battery, accounts for more than 60% of the total cost of manufacturing.

EV battery Industry – Supplier Intelligence – Capability based ranking & selection criteria with weightage:

Operational Capabilities –

  • Years in Service – 15%
  • Geographical Service Presence – 35%
  • Employee Strength – 15%
  • Revenue Generated – 15%
  • Key Clients – 12%
  • Certifications – 8%

Functional Capabilities –

  • Battery Type – 50%
    • Lead acid
    • Lithium ion
    • Ni-metal ion
    • o  Others
  • Battery Capacity (kWh) – 25%
    • High (>100 KWh)
    • Medium (51 to 100 KWh
    • Low (0 to 50 KWh)
  • Propulsion – 25%
    • Battery electric vehicle (BEV)
    • Plug In hybrid electric vehicle (PHEV)

List of Key Suppliers in the EV Battery industry:

  • CATL
  • Samsung
  • LG Chem Ltd.
  • BYD Company Ltd.
  • Panasonic
  • Tesla
  • GS Yuasa International Ltd.
  • Hitachi Chemical Co., Ltd.
  • TCL Corporation
  • Crown Battery Manufacturing

Addon Services offered by Grand View Research:

  • Should Cost Analysis – Raw material cost accounted for more than 65% of the overall cost of EV battery manufacturing. Key raw materials include lithium, graphite, manganese, and cobalt. Among these, lithium has the highest cost share in overall EV battery manufacturing cost with 35%. Lithium price has been witnessing a significant drop since 2017 due to over-supply caused by an avalanche in Australia, the leading lithium producer. Labor cost is the key cost component of overhead costs. Trends of market correction in terms of salary are resulting in the rise of labor wage globally. However, salaries offered are based on region-centric policies. Therefore, shifting procurement and manufacturing practices to LCC countries could help manufacturers drive down the cost of labor.
  • Rate Benchmarking – The type of EV battery is one of the most important aspects while analyzing the rate benchmarking of EV battery manufacturing. In our research, we have analyzed the rates of lithium-ion (Li-ion) batteries, sodium-nickel-chloride (NA-NiCl2) batteries, nickel-metal hydride (Ni-MH) batteries, and lithium-sulfur (Li-S) batteries. NA-NiCl2 are the most expensive batteries in the market. The average price of these batteries is 50%-60% higher than Li-ion and Li-S batteries. However, Li-ion and Li-S batteries have a 30% lower price to maximum charge ratio than NA-NiCl2 batteries. Moreover, the normal voltage of Li-ion batteries is 10% higher than NA-NiCl2, and Ni-MH batteries. Hence, using Li-ion and Li-S batteries will give more cost-benefit while installing it in an electric vehicle.
  • Salary Benchmarking – Our research indicates that the Production Supervisor/Manager of LG Energy Solution, Panasonic, and Samsung SDI earn 35% higher salaries than Production Supervisor/Manager from other industry leaders like CATL and BYD. However, the YoY increment rate in such companies largely depends on KRAs.
  • Supplier Newsletter – It is cumbersome for any organization to continuously track the latest developments in their supplier landscape. Our newsletter service helps them remain updated, to avoid any supply chain disruption which they may face, and keep a track of the latest innovations from the suppliers. Outsourcing such activities help clients focus on their core offerings.

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.

Our services include (not limited to):

  • Market Intelligence involving – market size and forecast, growth factors, and driving trends
  • Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
  • Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
  • Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Browse through Grand View Research’s collection of procurement intelligence studies:

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  • Vitamins and Dietary Supplements Market Procurement Intelligence – The global vitamin and dietary supplements market is expected to exhibit a CAGR of 4.9% from 2020 to 2025 with capsules and tablets being the most consumable dosage form of supplements. Powder is expected to emerge as the fastest-growing dosage form from 2020 to 2025 with a projected CAGR of 6.4% from 2020 to 2025.

EV Battery Tech Provides Sales, EcoVille, and Corporate Update

Extreme Vehicle Battery Technologies Corp (“EV Battery Tech” or the “Company“) (CSE: ACDC) is pleased to provide an update on its product sales, the developments at EcoVille and other corporate developments.

Update on Products and Sales

  • The Company officially launched its RV FreedomTM on February 24, 2021. During the first day it went live, the Company received so many inquires on its website for this product, that it crashed the system. The Company has already started to increase its staff to keep up with the demand for this product. The Company ambitiously hopes to start shipping this product by the summer of 2021.

  • The Company officially started taking deposits for its Home SmartWallTM on January 21, 2021 and has seen great interest. Customers are able to make a deposit to secure themselves delivery of the Company’s first shipment of Home SmartWall’s expected later this year. The Company also ambitiously hopes to have display models sent to its affiliate showrooms in Toronto (Canada), Los Angeles (United States) and Rome (Europe) by this summer. With a capacity greater than that of Tesla’s Powerwall, a more sophisticated Battery Management System (BMS), safer chemical composition and a lower retail price, the Company aims to outsell Tesla in this category by 2022.

  • The Company officially started taking orders for its Titan EnergyCoreTM on January 28, 2021. This Energy Storage System (ESS) is designed to be stackable so that it can be configured to be able to store enough energy to power an industrial operation or even an entire city. This product has seen a significant amount of interest from energy traders, renewable energy companies and developers. The Company also hopes to pursue larger government sales as cities move towards renewable energy and require the reliability of ESS solutions to back up the intermittent nature of the renewable energy power plants. The Company hopes deliver its first Titan EnergyCoreTM later this year.

  • The Company signed a partnership agreement with Daymak Inc., Canada’s largest distributor of Light Electric Vehicles (LEVs) on February 8, 2021. The Company has already commenced the process to get its products into the Daymak distribution network, which includes some of the largest names in North America, such as Costco, Walmart and Best Buy. The Company is also working with Daymak to introduce new products into the LEV market together. Daymak’s CEO, Aldo XX has joined EV Battery Tech’s Advisory Board.

“We are extremely excited about the overwhelming level interest in our products thus far” stated EV Battery Tech CEO, Bryson Goodwin“The amount of emails, calls, and orders on the RV Freedom alone, has forced us to increase our staff to handle the massive influx of interest.  This shows a lot of promise for the direction we’re heading in, and we’re delighted for our technology to have this much excitement surrounding it! I believe it truly deserves it!”

New Product Renderings

  • The Company is pleased to announce it has updated the designs of the Home SmartWallTM, and the Titan EnergyCoreTM. The new designs include a brush steel casing and are now displayed in a detailed 360 degree rendering, which more accurately display of what each product is intended to look like. Both of these are available for viewing at www.ionixpro.com.

Update on EcoVille

  • Pursuant to the agreement between the Company and Squamish EcoVille Ltd. dba EcoVille Ltd. (“EcoVille“) previously announced on November 12, 2020, the Company has continued to collaborate with EcoVille and has made significant progress towards setting up energy storage system (ESS) solutions for the upcoming carbon-neutral, self-sufficient eco-community.

  • EcoVille develops eco-communities by bringing together innovative technologies that enable communities to achieve self-sufficiency and carbon neutrality. Currently, EcoVille is developing projects in Squamish and Vancouver, British Columbia. EcoVille will require ESS solutions for its buildings, office space, and renewable energy power stations.

We are in the customization phase of implementing a Titan EnergyCoreTM to the EcoVille community to allow us to have power stored from renewable sources.” Stated EcoVille Director, Yoga Yogendran. “We are also in the process of implementing multiple Home SmartWall’sTM into townhomes as part of the phase 1 buildout. This will allow storage and peak shavings in the properties. As we progress into phase 2, we will be establishing further implementation of EV Battery Tech’s Ionix Pro products into the community.”

General Corporate Updates

  • The Company has engaged AlphaOne Media Group Inc. (“AlphaOne Media“) to manage its investor relations division. The level of inquires both for the Company and its new products has increased exponentially and so the Company has now brought on a top tier Investor Relations firm to handle the increased traffic. Alpha One Media will assume this role effective immediately and also assist the Company with creating awareness for its products and services. Please see new contact numbers and emails below.

  • Pursuant to the agreement dated August 31, 2020, the Company has issued 217,392 common shares of the Company as the second tranche of shares to Intelligent Battery Services Ltd, (“IBS“) previously referred to as Intelligent Battery Technologies Ltd., for a total aggregate value of $100,000 based on the 30-day volume weighted average price of the ACDC shares on the CSE.
  • The Company has appointed Maryam Amin-Shanjani as its Chief Financial Officer. Ms. Shanjani is a CPA who brings decades of experience to Company in both public and private companies. The Company welcomes yet another talented officer to its executive team as it continues to grow.

  • The Company has signed agreements with Sidis Holdings Limited, Axe Communications Inc., Market IQ Media Group Inc., Stockhouse Publishing Ltd., AI Genius Marketing Inc., Signal Point Communications Inc., Hapbee Media Group Inc., Amherst Baer Consultancy Corp., and Yabucoa Partners Corp. dba Street Smart to assist with the marketing for the Company and creating awareness for the Company’s shares.

EV Battery Market worth $67.2 billion by 2025 – Exclusive Report by MarketsandMarkets™


According to the new market research report EV Battery Market by Battery Capacity (<50, 50-110, 111-200, 201-300 and >300), Battery Form (Wire, Laser), Propulsion (BEV, PHEV, PHEV, FCEV), Battery Type, Material Type, Li-ion Battery Component, Method, Vehicle Type & Region – Global Forecast to 2025″, published by MarketsandMarkets™, the global EV Battery Market is projected to grow at a CAGR of 25.3% from USD 27.3 billion in 2021 to USD 67.2 billion by 2025.

Browse in-depth TOC on “EV Battery Market”
176 – Tables
80 – Figures
248 – Pages

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The growth of the EV Battery Market can be attributed to the increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models.

Asia pacific is expected to be the largest EV Battery Market in the forecast

Countries such as ChinaJapanIndiaSouth Korea, and Thailand are considered under Asia Pacific for market analysis. China is the largest contributor to the global market, accounting for a share of more than 95%. Chinese companies such as Panasonic, LG, Chem, Samsung, CATL, and BYD are dominating both the Chinese and global EV Battery Market. Chinese EV manufacturers, who have access to cheaper parts and components, are providing electric vehicles at lower prices.

The Chinese government has made significant investments to convert conventional public transport fleets into electric ones, which also drives the EV Battery Market. In 2019, BYD launched its K12A, the world’s first 27-m pure electric bus. With a passenger capacity of 250 people, it is the longest pure electric bus in the world and can travel at a maximum speed of 70 km/h. The K12A is also the world’s first electric bus equipped with a distributed 4WD system, which can smoothly switch between 2WD and 4WD to meet the demands of different terrains, while also lowering the vehicle’s overall energy consumption.

The Indian government has announced plans for financial support for EVs—a zero-rated goods and services tax (GST) and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme run by the Department of Heavy Industries to increase the adoption of electric vehicles. State authorities are rolling out contracts for electrifying the public transport fleet. For example, in 2018, BYD supplied 25 electric buses to the city of Pune and is expected to supply more in other cities.

South Korea and Japan started adopting electric vehicles in the last few years, with the introduction of hybrid vehicles. In October 2020, Toyota and Panasonic formed a joint venture to begin the production of batteries for hybrid vehicles at a facility in Japan. The Japanese manufacturer, Mitsubishi has announced to spend USD 9.6 million to boost production of electrolyte solution for lithium-ion batteries in 2021. The company will used this fund to upgrade equipment at plants in the U.S., the U.K. and China.

With advancements in battery technology and focused research, the presence of EVs in these countries has grown considerably.

 Europe is expected to be the fastest-growing market during the forecast

Countries such as GermanyFranceSpain, UK, ItalyNorwaySweden, and Denmark are considered under Europe for market analysis. The presence of OEMs such as VDL Groep (Netherlands) and AB Volvo (Sweden) offers opportunities for the growth of the EV Battery Market in the region. The increasingly stringent regulations related to environmental issues are propelling market players to test and develop advanced vehicles, which will further boost the market for advanced battery technologies. For example, Brexit deal creates an opportunity for Nissan to expand the business operations at its Sunderland plant. In return, the Japanese OEMs is even investing in the UK and other European countries. Nissan is interested to build additional battery production capacity in Sunderland. In September 2020, Mercedes-Benz, a subsidiary of Daimler AG, introduced its new all-electric eCitaro G, optionally equipped with innovative solid-state batteries. In December 2019, Volvo Trucks, a subsidiary of AB Volvo, developed heavy-duty electric concept trucks for construction operations and regional distribution.

France is expected to be the fastest-growing market for EV batteries in the region. The initiatives undertaken by the French government to promote electric commercial vehicles and electrification of public transport fleets are driving the country’s EV Battery Market. The government in Germany is also focusing on increasing the use of electric vehicles.

Major battery manufactures have been expanding their networks in the European region that has allowed significant growth of EVs and batteries. For instance, in 2017, Samsung SDI has invested about USD 1.3 billion to expand its factory in Hungary. This allowed Samsung to start production in 2018 on the Hungary plant, which produced batteries for 50,000 EVs that year.

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The laser bonding segment is expected to be the largest EV method in the forecast

The laser bonding method is expected to lead the EV Battery Market during the forecast period. This method is mostly preferred due to its non-contact process that enables welding of dissimilar materials with high precision. Laser bonding is considered a reliable technology to connect battery cells and achieve fast production of battery pack conductive joints.

Key Market Players:

The global EV Battery Market is dominated by major players CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea).The key strategies adopted by these companies to sustain their market position are new product developments,merges & acquistions, supply contracts, partnerships, expanisons, collaborations, acquisitions, and contracts & agreements.