Europe EV Battery Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Europe EV Battery Systems Industry Overview

The Europe battery systems for an electric vehicle are moderately consolidated. The market is characterized by the presence of large players who have secured long-term supply contracts with major automotive OEMs as well as some startups which have secured fresh funding to set up battery manufacturing plants. These players also engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions.

Some of the major players dominating the European market are LG Energy Solution, Samsung SDI, CATL, Panasonic Corp., and Northvolt AB. Key players are expanding their production capacity and entering into long-term contracts with EV manufacturers to secure their market position and stay ahead of the market curve. For instance,

• In March 2022, Stellantis N.V. and LG Energy Solutions' joint venture Automotive Cells Company (ACC) announced to convert Stellantis' existing plant at Termoli, Italy into a battery gigafactory with an annual output of 120 GWh by 2030.
• In March 2022, Swedish battery manufacturer Northvolt AB announced a new gigafctory at Schleswig-Holstein in Germany with an annual output of 60 GWh. The gigafactory will be operational by 2025.