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Currently windycitywreckers the world’s largest EV battery maker is China’s Contemporary Amperex Technology (CATL), which holds about 35% of the total global market. Headed by billionaire Robin Zeng, whose net worth exceeds $45 billion, CATL supplies batteries to BMW, Tesla and other major automakers. The Chinese battery giant is followed by SK’s topcacnhacai crosstown rival LG with about 14%, China’s BYD at 12% and Japan’s Panasonic with 10%. SK On has about a 6.5% share, according to SNE data. Last year, SK On overtook its other big rival Samsung, which was formerly in the fifth spot but has been steadily losing its foothold.

The competitive landscape for these top producers may transform within the decade. SK On estimates that by 2030, the global EV market will reach 2.5 terawatt hours, worth at least $263 billion, or 31.3 million EVs, if each vehicle is equipped with a standard 80 kilowatt-hour battery. To meet its targets, SK On plans a major international expansion that hinges on “nurturing and managing” a global network of partnerships and factories, particularly in Europe, the world’s second-largest EV market. In March, U.S. automaker Ford and SK On formed a joint venture for an EV battery factory in Turkey. From 2025, the new facility will have an annual production capacity of between 30gwh and 45gwh a year. That’s only the beginning, says Jee.

Investing abroad may be money well spent. Overseas factories located close to major EV markets help battery makers cut the costs of conveying their products to EV assembly lines, says Sam Abuelsamid, principal analyst for e-mobility with Guidehouse Insights in the U.S. “Batteries are large, heavy and potentially dangerous to transport,” he says. “Localizing production to where the vehicles are going to be produced and sold can dramatically reduce logistics costs.” Most major Western automakers are investing directly into cell production, he added, including Ford, Stellantis and Volkswagen. SK On supplies all three.

which frequently causes staff fatigue and lack of attention to more important matters. A customer education program can free up CSMs to concentrate on more strategic customer concerns by creating training content that targets these important areas. Additionally, it might result in fewer customer support tickets being submitted, which would save you money.