Li ion Battery for AEVs

Li-ion Battery for AEVs Market Outlook

The global Li-ion battery market for Electric Vehicles (EVs) is projected to reach USD 100 billion by 2035, experiencing a robust compound annual growth rate (CAGR) of 20% during the forecast period from 2025 to 2035. This exponential growth can be attributed to the increasing demand for electric vehicles, supported by government initiatives aimed at reducing carbon emissions and transitioning towards sustainable energy sources. Moreover, advancements in battery technology, including enhanced energy density and charging speeds, have made Li-ion batteries more appealing to consumers and manufacturers alike. The growing need for energy storage solutions, the rising popularity of renewable energy sources, and the expanding consumer electronics market further bolster market growth. Additionally, the global shift towards environmentally friendly alternatives and the increasing investments in battery recycling technologies are expected to significantly contribute to the market's expansion.

Growth Factor of the Market

The growth of the Li-ion battery market for AEVs is significantly influenced by several critical factors. Firstly, the rising awareness regarding environmental sustainability has prompted both governments and consumers to prioritize electric vehicles, driving up the demand for high-performance batteries. Furthermore, enhanced battery technology, which improves energy density, charging rates, and overall efficiency, has attracted significant investment from automotive and technology companies looking to capitalize on the electric vehicle trend. Additionally, governmental policies promoting the transition to electric vehicles through financial incentives and subsidies have also propelled market growth. The increasing prevalence of renewable energy sources, such as solar and wind, necessitates efficient energy storage solutions, thereby increasing the demand for Li-ion batteries. Moreover, the advancement in battery recycling technologies plays a crucial role in making the supply chain more sustainable, which is a significant factor contributing to market growth.

Key Highlights of the Market

• Rapid growth in electric vehicle adoption driven by environmental concerns.
• Technological advancements in battery chemistry improving performance and efficiency.
• Government incentives promoting electric vehicles and sustainable practices.
• Increasing demand for energy storage systems in renewable energy applications.
• Expansion of the consumer electronics market fueling battery demand.

By Product Type

Lithium Cobalt Oxide

Lithium Cobalt Oxide (LCO) batteries are primarily utilized in compact electronic devices such as smartphones and laptops. Their high energy density makes them ideal for applications where space is a constraint, allowing manufacturers to create lighter and more efficient devices. Although LCO batteries are not typically used in electric vehicles due to their thermal stability concerns and lower lifespan compared to other lithium-ion technologies, their role in the consumer electronics sector cannot be overstated. The technological advancements in safety and performance have improved LCO batteries over the years, maintaining their relevance in the market. Furthermore, the continuous demand for high-capacity batteries in portable devices contributes to the sustained growth of LCO technology, even as the automotive sector shifts towards other lithium-ion chemistries.

Lithium Iron Phosphate

Lithium Iron Phosphate (LFP) batteries are known for their enhanced thermal stability, safety, and longevity, making them suitable for electric vehicles and large-scale energy storage systems. Unlike other lithium-ion batteries, LFP batteries offer a longer cycle life, which is a significant advantage in applications requiring frequent charging and discharging cycles. The lower energy density compared to other chemistries is offset by their safety features, which significantly reduce the risk of fire and thermal runaway. As the world transitions to electric mobility, LFP batteries are gaining traction, especially in commercial electric vehicles, buses, and energy storage solutions. The increasing preference for safer battery options aligns with consumer concerns, driving the demand for LFP batteries in various applications.

Lithium Nickel Manganese Cobalt

Lithium Nickel Manganese Cobalt (NMC) batteries are versatile and can be tailored to fit various applications, including electric vehicles and energy storage systems. They combine the strengths of nickel, manganese, and cobalt to achieve a balance of energy density, power, and thermal stability. The growing EV market benefits significantly from NMC batteries due to their ability to deliver high energy outputs while maintaining safety. Their adaptability allows manufacturers to design batteries with specific characteristics optimized for different vehicle types, whether that be for performance-oriented electric cars or long-range commutes. As the electric vehicle market continues to grow, the demand for NMC batteries is expected to rise, making them a vital component in the future of sustainable transportation.

Lithium Nickel Cobalt Aluminum Oxide

Lithium Nickel Cobalt Aluminum Oxide (NCA) batteries are known for their high energy density and long lifecycle, making them particularly suitable for high-end electric vehicles. These batteries are often used by leading electric vehicle manufacturers to provide superior performance and range. NCA technology is characterized by its ability to maintain high voltage levels over extended periods, making it an attractive option for applications requiring long-term reliability and efficiency. Furthermore, NCA batteries exhibit better thermal stability compared to some other lithium-ion chemistries, contributing to overall safety in electric vehicle applications. As the automotive industry continues to innovate and demand high-performance solutions, NCA batteries are set to play a crucial role in the future of electric mobility.

Lithium Titanate

Lithium Titanate (LTO) batteries are recognized for their remarkable charging speed and extended lifecycle, making them ideal for applications requiring rapid charging and frequent cycling. Although LTO batteries have a lower energy density compared to other lithium-ion technologies, their unique properties allow for extremely fast charging times, which is advantageous for public transportation systems and other electric vehicles that need to minimize downtime. Additionally, LTO batteries have a high tolerance for temperature variations, further enhancing their applicability in various environments. As cities worldwide move towards electrification of public transport, the demand for LTO batteries is likely to grow, driven by their ability to meet the rigorous demands of modern transit solutions.

By Application

Electric Vehicles

The electric vehicle (EV) sector represents the largest application for Li-ion batteries, as they provide the necessary energy storage and power to drive electric motors. The increasing adoption of electric vehicles globally is driven by consumer awareness of environmental issues, government incentives, and advancements in battery technology that improve vehicle range and performance. Additionally, the automotive industry is heavily investing in research and development to enhance battery efficiency and reduce costs, further promoting EV adoption. As various countries enforce stringent regulations on emissions, the demand for electric vehicles is anticipated to escalate, propelling the Li-ion battery market forward. As such, the EV application segment is set to witness significant growth in the coming years, driving innovation and competition among battery manufacturers.

Energy Storage Systems

Energy storage systems utilizing Li-ion batteries are becoming increasingly important due to the growing integration of renewable energy sources such as solar and wind. These batteries facilitate the storage of excess energy during peak production times for use during periods of low generation, thereby enhancing the reliability and stability of power grids. The flexibility and scalability of Li-ion batteries enable their use in various applications, from residential setups to large utility-scale projects. With the global push towards sustainable energy, the demand for efficient energy storage solutions is expected to increase, favoring the growth of the Li-ion battery market. As technological advancements continue to lower costs and improve performance, energy storage systems will play a pivotal role in the transition to a more sustainable energy landscape.

Consumer Electronics

The consumer electronics segment remains a significant driver of the Li-ion battery market, as these batteries are extensively used in devices like smartphones, tablets, laptops, and wearables. The constant innovation within the consumer electronics sector, including the demand for more powerful and compact devices, spurs the need for high-quality lithium-ion batteries. As manufacturers strive to provide extended battery life and rapid charging capabilities, advancements in Li-ion technology are critical to meeting consumer expectations. The increasing trend of mobile computing and the proliferation of smart devices globally will continue to drive demand for Li-ion batteries in the consumer electronics sector, ensuring their importance in the overall market landscape.

Industrial

In the industrial application segment, Li-ion batteries are increasingly being deployed in various sectors, including manufacturing, logistics, and material handling. Their ability to provide reliable power for electric forklifts, automated guided vehicles (AGVs), and other industrial applications is driving market growth. Li-ion batteries offer advantages such as reduced maintenance costs, longer lifespan, and faster charging times compared to traditional lead-acid batteries, making them a preferred choice in industrial settings. As industries continue to automate and demand more efficient energy solutions, the adoption of Li-ion technology is expected to expand. This trend highlights the versatility and reliability of Li-ion batteries in meeting the diverse needs of modern industrial applications.

Others

In addition to the mentioned applications, Li-ion batteries find usage in various other sectors, including aerospace, telecommunications, and backup power systems. The growing reliance on portable power solutions across different industries necessitates efficient and reliable battery technology. As advancements in Li-ion battery technology continue to evolve, new applications are expected to emerge, further expanding the market's reach. For example, the use of Li-ion batteries in telecommunications infrastructure, such as cell towers and data centers, is becoming increasingly common due to their ability to provide uninterrupted power supply. This diverse application potential underscores the importance of Li-ion batteries in a wide range of industries and highlights their role in supporting technological advancement.

By Distribution Channel

Online Stores

Online stores have emerged as a leading distribution channel for Li-ion batteries, driven by the growing trend of e-commerce and the increasing preference for online shopping. The convenience of purchasing batteries online, alongside the ability to compare prices and access a wider range of products, has led to significant growth in this segment. E-commerce platforms also provide customers with detailed product descriptions and reviews, allowing consumers to make informed decisions. As manufacturers strive to improve their online presence and distribution strategies, the online channel is expected to continue experiencing robust growth. This shift in purchasing behavior is further accelerated by the ongoing digital transformation across various industries, making online stores a crucial component of the Li-ion battery supply chain.

Supermarkets/Hypermarkets

Supermarkets and hypermarkets have traditionally been significant retail channels for Li-ion batteries, particularly in the consumer electronics and small appliance segments. These retail outlets offer consumers the advantage of immediate access to batteries for their devices, catering to the needs of those who prefer in-person shopping. The convenience of purchasing batteries alongside other essential items contributes to customer satisfaction and overall shopping experience. However, as consumer habits evolve, these channels face increasing competition from online platforms. Nevertheless, supermarkets and hypermarkets continue to adapt by improving their product offerings and enhancing customer service, ensuring they remain relevant in the evolving retail landscape.

Specialty Stores

Specialty stores focusing on electronics, batteries, and related products play a crucial role in the distribution of Li-ion batteries. These stores often provide expert advice and a curated selection of high-quality batteries, catering to customers seeking specific products or solutions. The knowledgeable staff can assist consumers in choosing the right battery for their needs, fostering customer loyalty and trust. While specialty stores may face competition from larger retail channels, their focus on providing specialized products and personalized service ensures they maintain a dedicated customer base. As the demand for niche products continues to rise, specialty stores are well-positioned to capitalize on this trend within the Li-ion battery market.

Others

Other distribution channels, including direct sales from manufacturers and wholesale distributors, also contribute to the Li-ion battery market. Direct sales enable manufacturers to establish closer relationships with customers, allowing them to offer tailored solutions and competitive pricing. Wholesale distributors play a vital role in connecting manufacturers with retailers and other businesses, ensuring a steady flow of products across various markets. As the distribution landscape continues to evolve, these alternative channels will remain essential in ensuring that Li-ion batteries reach consumers effectively, supporting the overall growth of the market.

By Region

The Li-ion battery market is expected to witness significant regional growth, driven by varying technological advancements and consumer preferences around the globe. In the Asia Pacific region, the demand for Li-ion batteries is forecasted to grow at a CAGR of 22% during the forecast period, primarily fueled by the increasing electric vehicle adoption in countries like China, Japan, and South Korea. These nations are investing heavily in battery technology, supported by favorable government policies and incentives aimed at promoting electric mobility. Furthermore, the rising integration of renewable energy and the need for efficient energy storage solutions further contribute to this region's growth. The expanding consumer electronics market in Asia Pacific is also expected to play a significant role, as manufacturers seek high-quality battery solutions to support their operations.

In North America, the growth of the Li-ion battery market is largely driven by the increasing investments in electric vehicle infrastructure and the rising demand for energy storage systems. The United States, in particular, is witnessing a significant shift towards electric vehicles, bolstered by government initiatives aimed at reducing greenhouse gas emissions and promoting sustainable energy. Major automotive players are implementing strategies focused on developing electric vehicles, which is likely to spur demand for advanced battery technologies. Meanwhile, Europe is also emerging as a key player in the Li-ion battery market, with several countries committing to ambitious emissions reduction targets. As the electric vehicle market continues to expand, both North America and Europe are expected to contribute significantly to the overall growth of the Li-ion battery market.

Opportunities

The Li-ion battery market for AEVs presents numerous opportunities for growth, particularly in the realm of technological innovation. As research and development efforts continue to focus on enhancing battery performance, new chemistries and technologies are emerging that promise higher efficiency and lower costs. For example, solid-state battery technology is gaining traction, offering the potential for increased energy density and safety compared to traditional lithium-ion batteries. This innovation could revolutionize the electric vehicle market, enabling longer driving ranges and faster charging times. Additionally, as manufacturers and researchers explore sustainable materials for battery production, the integration of eco-friendly practices into the battery supply chain presents opportunities for companies that prioritize sustainability. As such, there is a growing demand for companies that can offer cutting-edge solutions that align with consumer expectations for both performance and environmental responsibility.

Furthermore, the expansion of renewable energy infrastructure provides significant opportunities for the Li-ion battery market. As the world moves towards a more sustainable energy landscape, the need for efficient energy storage systems to balance supply and demand becomes increasingly critical. Li-ion batteries are ideally positioned to serve this need, whether through residential solar energy storage systems or large-scale grid applications. The growing integration of electric vehicles into the grid also presents opportunities for vehicle-to-grid technology, allowing electric vehicles to serve as mobile energy storage units. This interconnected approach offers a seamless integration of electric vehicles and renewable energy, creating a more resilient and sustainable energy ecosystem. As investments in renewable energy continue to rise, the Li-ion battery market stands to benefit significantly from these emerging opportunities.

Threats

While the Li-ion battery market presents numerous growth opportunities, it also faces several threats that could impact its trajectory. One of the most pressing concerns is the volatility of raw material prices, particularly lithium, cobalt, and nickel, which are essential for battery production. Fluctuations in the availability and cost of these materials can lead to increased production costs and potential supply chain disruptions. Moreover, geopolitical issues and trade tensions can further complicate the sourcing of these materials, potentially limiting access to vital resources. This threat not only affects manufacturers' profit margins but also raises concerns about the overall sustainability of the supply chain, as companies seek to diversify their sources and mitigate risks associated with material shortages.

Additionally, competition from alternative battery technologies poses a significant threat to the Li-ion battery market. Emerging technologies, such as solid-state batteries and other chemistries, are being developed and tested, with some showing promise in terms of improving energy density and safety. If these alternative technologies succeed in overcoming the challenges associated with traditional Li-ion batteries, they could disrupt the market and shift consumer preferences away from established lithium-ion solutions. The landscape of energy storage is rapidly evolving, and companies within the Li-ion battery sector must remain vigilant and adaptive to maintain their competitive edge in the face of these emerging threats.

Competitor Outlook

• Panasonic Corporation
• LG Chem Ltd.
• Samsung SDI Co., Ltd.
• CATL (Contemporary Amperex Technology Co. Limited)
• BYD Company Limited
• Tesla, Inc.
• A123 Systems LLC
• Northvolt AB
• Shaanxi Destech Technologies Co., Ltd.
• Microporous Technology Co., Ltd.
• Hitachi Chemical Co., Ltd.
• Furukawa Electric Co., Ltd.
• SK Innovation Co., Ltd.
• Saft Groupe S.A.
• Amperex Technology Limited (ATL)

The competitive landscape of the Li-ion battery market is characterized by the presence of several key players, each striving to enhance their technological capabilities and market share. The major companies are heavily investing in research and development to stay ahead in the rapidly evolving industry, aiming to introduce innovative battery solutions that meet the increasing demands for higher energy density, faster charging times, and improved safety. Collaborations and partnerships are also common among industry players, as they seek to leverage each other's expertise and resources to accelerate the development of new technologies. As competition intensifies, companies are focusing on not only improving product performance but also adopting sustainable practices and reducing the environmental impact of battery production.

One of the leading companies in this space is Panasonic Corporation, known for its advanced battery technologies and strong partnership with Tesla. Panasonic focuses heavily on innovation and sustainability, continually improving its manufacturing processes to produce high-performance batteries for electric vehicles. LG Chem and Samsung SDI are also significant players, competing vigorously in the consumer electronics and electric vehicle segments. They invest extensively in developing next-generation battery technologies and expanding production capabilities to meet rising global demand. Furthermore, companies like CATL and BYD have established themselves as major players in the EV battery market, rapidly increasing production capacity to capitalize on the growing electric vehicle market.

Emerging competitors, such as Northvolt AB, are challenging established players by focusing on sustainability and localizing the battery supply chain. Northvolt aims to produce batteries using renewable energy sources, providing a compelling value proposition in an industry increasingly focused on sustainable practices. Additionally, companies like A123 Systems and SK Innovation are making strides in developing high-performance batteries for various applications, including electric vehicles and energy storage systems. This dynamic competitive landscape highlights the importance of innovation, sustainability, and strategic partnerships as key drivers of success in the Li-ion battery market.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Tesla, Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 LG Chem Ltd.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Northvolt AB
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 A123 Systems LLC
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Saft Groupe S.A.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 BYD Company Limited
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Panasonic Corporation
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Samsung SDI Co., Ltd.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 SK Innovation Co., Ltd.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Hitachi Chemical Co., Ltd.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Furukawa Electric Co., Ltd.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Amperex Technology Limited (ATL)
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Microporous Technology Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Shaanxi Destech Technologies Co., Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 CATL (Contemporary Amperex Technology Co. Limited)
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Li ion Battery for AEVs Market, By Application
    • 6.1.1 Electric Vehicles
    • 6.1.2 Energy Storage Systems
    • 6.1.3 Consumer Electronics
    • 6.1.4 Industrial
    • 6.1.5 Others
  • 6.2 Li ion Battery for AEVs Market, By Product Type
    • 6.2.1 Lithium Cobalt Oxide (LCO)
    • 6.2.2 Lithium Iron Phosphate (LFP)
    • 6.2.3 Lithium Nickel Manganese Cobalt (NMC)
    • 6.2.4 Lithium Nickel Cobalt Aluminum Oxide (NCA)
    • 6.2.5 Lithium Titanate (LTO)
  • 6.3 Li ion Battery for AEVs Market, By Distribution Channel
    • 6.3.1 Online Stores
    • 6.3.2 Supermarkets/Hypermarkets
    • 6.3.3 Specialty Stores
    • 6.3.4 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Li ion Battery for AEVs Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Li ion Battery for AEVs market is categorized based on

By Product Type

• Lithium Cobalt Oxide (LCO)
• Lithium Iron Phosphate (LFP)
• Lithium Nickel Manganese Cobalt (NMC)
• Lithium Nickel Cobalt Aluminum Oxide (NCA)
• Lithium Titanate (LTO)

By Application

• Electric Vehicles
• Energy Storage Systems
• Consumer Electronics
• Industrial
• Others

By Distribution Channel

• Online Stores
• Supermarkets/Hypermarkets
• Specialty Stores
• Others

By Region

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Panasonic Corporation
• LG Chem Ltd.
• Samsung SDI Co., Ltd.
• CATL (Contemporary Amperex Technology Co. Limited)
• BYD Company Limited
• Tesla, Inc.
• A123 Systems LLC
• Northvolt AB
• Shaanxi Destech Technologies Co., Ltd.
• Microporous Technology Co., Ltd.
• Hitachi Chemical Co., Ltd.
• Furukawa Electric Co., Ltd.
• SK Innovation Co., Ltd.
• Saft Groupe S.A.
• Amperex Technology Limited (ATL)