Batteries for hybrids and plug-in vehicles are growing fast, more than tripling over the past three years to reach 1.4 GWh per quarter, according to the Automotive Battery Tracker from Lux Research. Panasonic has emerged as the leader thanks to its partnership with Tesla, capturing 39% of the plug-in vehicle battery market, overtaking NEC (27% market share) and LG Chem (9%) in 2013.
“Even at relatively low volumes — less than 1% of all cars sold — plug-in vehicles are driving remarkable energy storage revenues for a few developers, like Panasonic and NEC, that struck the right automotive partnerships,” said Cosmin Laslau, Lux Research Analyst and the lead author of the new Lux Research Automotive Battery Tracker.
“To understand this opportunity, we combined a comprehensive data set of vehicle sales with detailed battery specifications for each car and supplier relationships, yielding a flexible tool that uncovers unexpected insights into this fast-changing market,” he added.
Lux Research analysts used historical and current vehicle sales, detailed battery specifications for each car, and supplier relationships to create the Automotive Battery Tracker. Among their findings:
Via Steve Crandall.