Mining
Iron Road (ASX:IRD)
Iron Road (ASX: IRD) has a vision to become a trusted and reliable supplier of premium iron concentrates to the Asian marketplace.
The flagship project in achieving this vision is the Central Eyre Iron Project (or CEIP) in South Australia. CEIP is a large scale development expected to produce 20Mtpa of iron concentrate. CEIP will require an industry partner to finance and develop associated rail and port infrastructure. Iron Road is in the final stage of Definitive Feasibility Study for the CEIP. Mineral Resources already top 2.5 billion tonnes, providing for 30+ years of production.
Alongside the CEIP, Iron Road is progressing a scoping study on the smaller scale Gawler Iron Project (Gawler). Gawler has the potential for 1-2 Mtpa development that can provide early sustaining cash flows. Gawler is close to established rail infrastructure with port access and can potentially provide product to gain early market acceptance for concentrates similar in specification to the larger expected CEIP output.
Iron Road’s development pathway will recognise market constraints and seek to utilise the common product specifications of CEIP and Gawler to enable a flexible development strategy.
Lithium
Ranked: The Top 10 EV Battery Manufacturers in 2023
Asia dominates this ranking of the world’s largest EV battery manufacturers in 2023.
The Top 10 EV Battery Manufacturers in 2023
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Despite efforts from the U.S. and EU to secure local domestic supply, all major EV battery manufacturers remain based in Asia.
In this graphic we rank the top 10 EV battery manufacturers by total battery deployment (measured in megawatt-hours) in 2023. The data is from EV Volumes.
Chinese Dominance
Contemporary Amperex Technology Co. Limited (CATL) has swiftly risen in less than a decade to claim the title of the largest global battery group.
The Chinese company now has a 34% share of the market and supplies batteries to a range of made-in-China vehicles, including the Tesla Model Y, SAIC’s MG4/Mulan, and various Li Auto models.
Company | Country | 2023 Production (megawatt-hour) | Share of Total Production |
---|---|---|---|
CATL | 🇨🇳 China | 242,700 | 34% |
BYD | 🇨🇳 China | 115,917 | 16% |
LG Energy Solution | 🇰🇷 Korea | 108,487 | 15% |
Panasonic | 🇯🇵 Japan | 56,560 | 8% |
SK On | 🇰🇷 Korea | 40,711 | 6% |
Samsung SDI | 🇰🇷 Korea | 35,703 | 5% |
CALB | 🇨🇳 China | 23,493 | 3% |
Farasis Energy | 🇨🇳 China | 16,527 | 2% |
Envision AESC | 🇨🇳 China | 8,342 | 1% |
Sunwoda | 🇨🇳 China | 6,979 | 1% |
Other | - | 56,040 | 8% |
In 2023, BYD surpassed LG Energy Solution to claim second place. This was driven by demand from its own models and growth in third-party deals, including providing batteries for the made-in-Germany Tesla Model Y, Toyota bZ3, Changan UNI-V, Venucia V-Online, as well as several Haval and FAW models.
The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment.
Once a leader in the EV battery business, Panasonic now holds the fourth position with an 8% market share, down from 9% last year. With its main client, Tesla, now sourcing batteries from multiple suppliers, the Japanese battery maker seems to be losing its competitive edge in the industry.
Overall, the global EV battery market size is projected to grow from $49 billion in 2022 to $98 billion by 2029, according to Fortune Business Insights.
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