CALB aims for ‘aggressive’ expansion in its goal to be among the world’s top three EV battery makers. CALB is targeting a total capacity of 500 gigawatt-hours (GWh) in 2025, more than 42 times the 11.9 GWh it produced in 2021 and about 30 GWH in 2022. The Jiangsu-based company raised US$1.26 billion in its Hong Kong IPO, aiming to achieve the top three global ranking within five years.
In early 2022, two planned factories in Guangzhou and Jiangmen were each designed for an annual capacity of 50 GWh.
In October, 2022, CALB said it is well on track to expand capacity to 100 GWh in 2023, said its chief executive Liu Jingyu.
SVolt is another China battery company with big goals. SVolt has eight production sites with 297 GWh of capacity under construction, including 30 GWh of capacity being built in Europe. SVolt raised $2.1 billion in 2022.
Six chinese companies (CATL, BYD, CALB, Gotion High-tech, Sunwoda, SVOLT) have a global total market share of about 60%. CATL is by far the most dominant and BYD is second.
CALB, Gotion and SVolt are each pushing to reach over 100 GWh in 2023 and toward 300-600 GWh/year each in 2025.
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