Lithium Ion Battery Cell Production Exceeded 1 Twh!

🟢According to the CRU Group report, #lithium ion cell production in 2023 increased by 44% on an annual basis. It reached 1,017 GWh.

⚡The market share of LFP cathode cells increased to 52% in 2023 according to statistics that include energy storage-oriented cell production in addition to power batteries used in electric vehicles.

🏭The leader in lithium-ion cell production has not changed again. Chinese CATL came first by far, followed by #BYD and #LG. The production volume of these three companies constituted two-thirds of the global industry.

🔋 China alone produced 76% of the lithium-ion cells produced in 2023. The production volume of the Far Eastern country reached 778 GWh. Its closest rival’s production increased by 36% on an annual basis to 102 GWh.