Solar energy Storage Industry

TOP 15 Lithium Iron Phosphate Battery Manufacturers In China 2023

LIFEPO4 battery factory

Lithium iron phosphate batteries are pretty impressive – they last a really long time, are super safe, have a big capacity, and are eco-friendly. People are really into them for power batteries and storing energy these days. These batteries have become the go-to choice for energy storage systems, and in 2023, more than 90% of China’s electrochemical energy storage came from domestic lithium iron phosphate solutions.

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Market Situation

In 2023, we can anticipate a significant surge in both the production and sales of lithium iron phosphate (LFP) batteries. This uptick is primarily being fueled by the ever-growing need for electric vehicles and energy storage systems.

A report from MarketsandMarkets paints a promising picture, projecting that the global LFP battery market will escalate from USD 7.5 billion in 2023 to an impressive USD 12.45 billion by 2027, exhibiting a robust compound annual growth rate (CAGR) of 13.5%.

Several factors are contributing to this remarkable growth in the LFP battery market:

1. Surging Demand for Electric Vehicles: LFP batteries have gained immense popularity as the preferred battery type for electric vehicles. Their enduring lifespan, cost-effectiveness, and safety make them a top choice for EV manufacturers.

2. Expanding Energy Storage Sector: LFP batteries are increasingly finding applications in energy storage systems due to their ability to store large quantities of energy and their extended operational lifespan.

3. Supportive Government Policies: Governments across the globe are incentivizing the adoption of electric vehicles and energy storage systems through various financial incentives. This is significantly boosting the demand for LFP batteries.

Additionally, 2023 is set to witness a rapid expansion in LFP battery production. Several new LFP battery manufacturing facilities are scheduled to become operational, not only in China but also in other countries. This will bolster the global supply of LFP batteries and help meet the surging demand.

In summary, the outlook for 2023 is highly promising for LFP batteries, with both production and sales anticipated to experience substantial growth, primarily due to the increasing demand for electric vehicles and energy storage systems.

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Development Trend

The cost advantage continues to emerge, and the industry scale continues to expand

LFP batteries have a number of advantages over other types of lithium-ion batteries, including:

  • Lower cost: LFP batteries are less expensive to manufacture than other types of lithium-ion batteries. This is because LFP batteries use less expensive materials, such as iron and lithium phosphate.
  • Longer cycle life: LFP batteries have a longer cycle life than other types of lithium-ion batteries. This means that LFP batteries can be charged and discharged more times before they need to be replaced.
  • Safer: LFP batteries are safer than other types of lithium-ion batteries. This is because LFP batteries are less likely to catch fire or explode.

As a result of these advantages, LFP batteries are becoming increasingly popular in a variety of applications, including electric vehicles, energy storage systems, and consumer electronics.

The cost advantage of LFP batteries is continuing to emerge. This is due to a number of factors, including:

  • Economies of scale: As the production of LFP batteries increases, the cost of manufacturing decreases.
  • Technological advances: New technologies are being developed that are making LFP batteries more efficient and less expensive to produce.
  • Increased competition: The increasing competition among LFP battery manufacturers is driving down prices.

The industry scale of the LFP battery industry is also continuing to expand. This is due to the increasing demand for LFP batteries in a variety of applications.

The expansion of the LFP battery industry is creating new opportunities for businesses and investors. For example, there is a growing demand for LFP battery manufacturing equipment and materials. There is also a growing demand for LFP battery recycling and disposal services.

Overall, the LFP battery industry is a rapidly growing industry with a bright future. The cost advantage of LFP batteries is continuing to emerge, and the industry scale is continuing to expand. This is creating new opportunities for businesses and investors.

The Matthew effect is gaining momentum

The Matthew effect is gaining momentum, and it’s becoming increasingly challenging for newcomers to carve out a space for themselves.

Looking at the structure of China’s lithium iron phosphate (LiFePO4) battery industry, it’s evident that a few dominant players hold significant sway. These leading companies have not only harnessed cutting-edge technology but also secured crucial customer relationships. Since power batteries wield considerable influence over vehicle performance, automakers exercise extreme caution when selecting their battery suppliers. Consequently, established firms like Ningde Times and BYD are often the top choices for many car manufacturers.

Furthermore, the power battery sector demands a substantial infusion of both technology and capital. R&D investments are substantial, and the development cycle is lengthy. Technological innovation stands as the primary driver of competition among enterprises. Larger, leading companies possess robust financial resources, a reservoir of talent, and a wealth of technological expertise. These advantages have collectively raised the industry’s entry barriers considerably.

As various original equipment manufacturers (OEMs) increasingly integrate lithium iron phosphate batteries into their supply chains, the prospects for newcomers in the industry appear rather constrained. The living space for new entrants is shrinking, making it a formidable challenge to establish a foothold in this highly competitive landscape.

Top 15 battery companies in China 2023

These companies are leading the way in the lithium iron phosphate (LFP) battery industry, and their products find applications in various sectors, spanning electric vehicles, energy storage systems, and consumer electronics.

China stands as the world’s largest producer of LFP batteries, and these 15 companies collectively hold a substantial portion of the global market share. The outlook for the LFP battery market remains highly optimistic, with expectations of continued rapid growth in the years ahead. LFP batteries are gaining increasing traction in electric vehicles and energy storage systems, which is driving this growth. The companies mentioned above are well-positioned to capitalize on this burgeoning market and reap its benefits.

The top 15 lithium iron phosphate (LFP) battery manufacturers in China in 2023 are:

Contemporary Amperex Technology Co., Limited (CATL)

Contemporary Amperex Technology Co., Limited (CATL) is a Chinese battery manufacturer and technology company that specializes in crafting lithium-ion batteries for various applications, notably electric vehicles (EVs), energy storage systems, and battery management systems (BMS).

Established in 2011, CATL swiftly rose to prominence and now stands among the world’s foremost battery manufacturers. As of 2022, CATL boasted a commanding market share of 34%, firmly securing its position as the world’s leading lithium-ion battery producer for electric vehicles. Impressively, in the first half of 2023, CATL maintained its top-ranking status, further expanding its market share to 36%.

CATL’s lithium-ion batteries find widespread use in a diverse range of electric vehicles, counting renowned automakers like Tesla, BMW, and Volkswagen among its clientele. Additionally, CATL extends its battery solutions to energy storage firms and various other enterprises.

Dedicated to innovation, CATL remains at the forefront of battery technology development. In 2023, the company introduced a groundbreaking battery variant characterized by even higher energy density and extended longevity compared to its predecessors. This remarkable advancement is poised to reinforce CATL’s position as the world’s premier battery manufacturer.

CATL’s ambitious plans include ramping up its manufacturing capacity to a staggering 1,000 gigawatt-hours (GWh) by 2025. This would catapult CATL to the undisputed title of the world’s largest battery manufacturer by a substantial margin.

CATL holds a pivotal role in the global battery industry and is primed for sustained growth in the foreseeable future. Their unwavering commitment to innovation and their strategic expansion of manufacturing capacity position them perfectly to meet the burgeoning demand for lithium-ion batteries.

BYD Company Ltd.

BYD Company Ltd. (BYD) is a Chinese multinational corporation headquartered in Shenzhen, Guangdong Province, China. It holds the distinction of being the world’s largest manufacturer of lithium-ion batteries and electric vehicles, with a diverse portfolio encompassing various products, including solar panels, energy storage systems, and electronics.

Founded in 1995 initially as a battery manufacturer, BYD rapidly diversified into other sectors such as electric vehicles and solar panels. Today, it stands as a global leader in these industries.

BYD’s electric vehicles are renowned for their impressive performance and extended range. They are distributed in over 50 countries worldwide. Additionally, BYD is a significant supplier of electric bus batteries to numerous cities across the globe.

The company’s energy storage systems play a pivotal role in storing energy generated from renewable sources like solar and wind power. These systems also provide critical backup power solutions for businesses and industries.

BYD distinguishes itself as a pioneering force in technological innovation. It allocates substantial investments in research and development, demonstrating a strong commitment to developing novel technologies aimed at reducing greenhouse gas emissions and fostering a more sustainable future.


  1. Global Leadership: BYD holds a prominent position as a global leader in both the lithium-ion battery and electric vehicle industries.
  2. Diverse Product Range: With a wide array of products and applications, BYD caters to various segments within the sustainable energy sector.
  3. Research and Development Focus: The company places a strong emphasis on research and development, driving innovation and technological advancements.
  4. Established Customer Base: BYD has built a robust customer base, owing to the quality and reliability of its products.


  1. Relative Newcomer: Despite its rapid growth, BYD is considered a relatively newer entrant in the electric vehicle industry compared to some long-standing competitors.
  2. Brand Recognition: While gaining prominence, BYD may still be less recognized globally compared to some of its more established rivals.

In summary, BYD is a well-positioned corporation with a strong dedication to innovation and a comprehensive range of products and applications. Its substantial investments in research and development underscore its commitment to advancing technologies that reduce greenhouse gas emissions and promote a sustainable future.

Gotion High-Tech Co., Ltd.

Guoxuan High-Tech Co., Ltd. is a prominent Chinese enterprise specializing in the research, development, manufacturing, and sales of lithium-ion batteries for both new energy vehicles and energy storage systems. Established in 2006 and headquartered in Hefei, Anhui Province, China, the company is publicly listed on the Shenzhen Stock Exchange (stock code 002074).

Guoxuan High-Tech has emerged as one of China’s leading lithium-ion battery manufacturers. In 2023, it secured the fourth position in China’s lithium battery installation capacity rankings, boasting a substantial market share of 5.2%. The company’s lithium-ion batteries find extensive use across various applications, encompassing pure electric passenger vehicles, commercial vehicles, specialized vehicles, light-duty vehicles, and energy storage power stations. Guoxuan High-Tech also offers comprehensive system solutions for energy storage power stations and communication base stations.

At the heart of Guoxuan High-Tech’s success lies a strong commitment to innovation. The company has amassed a collection of patented technologies within the lithium-ion battery domain, spanning the entire battery industrial chain. These patents cover critical aspects such as battery cell primary materials, battery structural design, battery manufacturing technology and equipment, battery management systems (BMS), PACK solutions, testing and evaluation processes, dismantling and recycling techniques, and energy storage applications.

Guoxuan High-Tech aspires to be a global frontrunner in the energy storage industry. The company is actively expanding its energy storage business while enhancing its comprehensive industrial chain layout. It actively engages in global competition and prioritizes technology-driven innovation.

In a significant move in 2023, Guoxuan High-Tech announced a substantial investment of $44.7 billion in overseas heavyweight projects. This substantial investment aims to bolster the company’s global manufacturing capacity and foster the development of new technologies.

Guoxuan High-Tech is strategically positioned with a robust innovation focus and a diverse range of products and applications. The company’s dedication to expanding its energy storage endeavors, optimizing its industrial chain, and embracing technology-centric innovation underscores its competitive edge in the evolving energy storage landscape.

CALB Co., Ltd.

CALB, formerly known as Zhonghang Lithium Battery, was established in 2007. The company’s broad business scope encompasses lithium-ion power batteries, battery management systems, energy storage batteries, and associated products and solutions. It stands as a global leader in new energy technology.

CALB is dedicated to transforming into an energy value creator. They aim to construct a comprehensive energy operation system and offer complete product solutions and total life cycle management for the new energy full-scenario application market. This market includes vehicles, ships, and energy storage solutions.

In a significant announcement in 2021, China Innovation Aviation unveiled their strategic plan, outlining CALB’s production capacity goals. By 2025, CALB plans to exceed 500 gigawatt-hours (GWh) of production capacity, with an ambitious target of achieving 1 terawatt-hour (TWh) of production capacity by 2030. This demonstrates CALB’s commitment to playing a pivotal role in the future of energy technology and storage solutions.

EVE Energy Co., Ltd.

Huizhou Yiwei Lithium Energy Co., Ltd., also known as EVE Energy Co., Ltd., was founded in 2001 and went public in 2009. Over the years, it has evolved into a top-tier lithium battery platform company, distinguished by its core technologies and comprehensive solutions for both consumer and power batteries. EVE Energy’s products find extensive use in the Internet of Things (IoT) and the Energy Internet sectors.

EVE Energy’s lithium consumer battery offerings span primary lithium batteries, small lithium-ion batteries, and cylindrical batteries. These serve leading industrial and consumer brands worldwide and are applied in a diverse range of applications, including smart meters, automotive electronics, smart security systems, electronic atomizers, wearable technology, TWS headphones, power tools, electric two-wheelers, vacuum cleaners, and more.

The company’s all-encompassing power battery solutions encompass square ternary batteries, square lithium iron phosphate batteries, soft-pack ternary batteries, large cylindrical batteries, as well as power and energy storage battery systems. These solutions find extensive utility in electric ships, construction machinery, power energy storage, communication energy storage, home energy storage, and various other markets.

EVE Energy Co., Ltd. stands as a robust player in the lithium battery industry, delivering versatile solutions that cater to a wide array of applications across consumer and industrial sectors, reinforcing its position as a leader in the field.

SVOLT Energy Technology Co., Ltd.

Svolt was formerly known as the Power Battery Division of Great Wall Motors. In 2018, Svolt Energy Technology Co., Ltd. was registered, established, and separated from Great Wall Motors. In 2021, it was restructured into Honeycomb Energy Technology Co., Ltd., headquartered in Changzhou, Jiangsu, China. Honeycomb Energy is a professional lithium-ion battery system provider focusing on the R&D, production, and sales of new energy vehicle power batteries and energy storage battery systems. The main products include batteries, modules, battery packs, and energy storage battery systems. They can provide customers with solutions for power batteries and energy storage products according to their needs.

Lishen Battery Co., Ltd.

Tianjin Lishen Battery Co., Ltd. (referred to as Lishen Battery) was founded in 1997 with a registered capital of about 1.93 billion yuan. It is China’s first joint-stock high-tech enterprise engaged in R&D, production, and operation of lithium-ion battery technology. Lishen Battery owns the core technology with independent intellectual property rights and has an annual production capacity of 500 million ampere-hours of lithium-ion batteries. Its products include four series of round, square, polymer, and plastic flexible packaging and power batteries with hundreds of models. In just a few years, Lishen Battery has developed rapidly and has become an excellent professional manufacturer of lithium-ion batteries in China. The application of products has also expanded from portable mobile electronic devices to new energy electric vehicles, wind and solar power generation, and energy storage systems.

REPT Battery Technology Co., Ltd.

Coremax Technology company Co., Ltd.

ANC Battery Co., Ltd.

AVIC Lithium Battery

Tianjin Lishen Battery Co., Ltd.

HIT Power Co., Ltd.

Jiangsu Shuangdeng New Energy Technology Co., Ltd.

EGbatt Energy Co., Ltd.

More information about them:

  1. Contemporary Amperex Technology Co., Limited (CATL): A globally recognized Chinese leader in lithium-ion battery technology, CATL is renowned for its high-performance battery solutions. They are pivotal in advancing electric vehicle adoption worldwide.
  2. BYD Company Ltd.: Known as “Build Your Dreams,” BYD is a prominent Chinese conglomerate with a diverse portfolio including electric vehicles, rechargeable batteries, and green technology solutions. They emphasize sustainability in transportation and energy sectors.
  3. Gotion High-Tech Co., Ltd.: This dynamic Chinese company specializes in lithium-ion batteries and energy storage systems, with a strong focus on research and development to create eco-friendly energy solutions.
  4. China Aviation Lithium Battery Co., Ltd. (CALB): With a rich history in aviation and lithium-ion battery tech, CALB provides reliable battery solutions for electric transportation, telecommunications, and renewable energy projects.
  5. EVE Energy Co., Ltd.: EVE Energy is a trusted Chinese battery manufacturer known for quality and sustainability, serving markets from consumer electronics to electric mobility.
  6. SVOLT Energy Technology Co., Ltd.: SVOLT is a leading player in electric vehicle batteries, committed to innovation and shaping a cleaner future for transportation.
  7. Lishen Battery Co., Ltd.: Lishen Battery, a global company, offers lithium-ion battery solutions for electric vehicles, energy storage, and consumer electronics.
  8. REPT Battery Technology Co., Ltd.: REPT Battery Technology specializes in lithium-ion batteries for electric vehicles and energy storage, known for technological advancements.
  9. Coremax Technology company Co., Ltd.: This company focuses on lithium polymer and lithium-ion batteries, powering various devices including medical equipment and IoT devices.
  10. ANC Battery Co., Ltd.: ANC Battery prioritizes sustainability and innovation in lithium-ion battery production, serving electric mobility and renewable energy integration.
  11. AVIC Lithium Battery: A subsidiary of AVIC, they specialize in lithium batteries for aerospace and defense applications, ensuring high-performance and reliability.
  12. Tianjin Lishen Battery Co., Ltd.: A subsidiary of Lishen Battery Co., they focus on lithium-ion battery production for electric vehicles and energy storage.
  13. HIT Power Co., Ltd.: HIT Power is committed to manufacturing lithium-ion batteries and energy storage solutions in line with the global transition to electric mobility and renewable energy.
  14. Jiangsu Shuangdeng New Energy Technology Co., Ltd.: This company is deeply involved in lithium battery research and development, advancing battery tech for various applications.
  15. EGbatt Energy Co., Ltd.: EGbatt Energy specializes in high-performance lithium-ion batteries for electric vehicles, industrial equipment, and energy storage systems, contributing to efficiency and sustainability in these sectors.

These companies collectively represent China’s commitment to advancing battery technology, promoting sustainable energy solutions, and contributing to the global shift toward cleaner and more efficient transportation and energy storage systems.

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