In recent years, the global EV battery market has seen a significant shift. According to the International Energy Agency (IEA), the price of batteries will rise 15% by 2022. However, if technology is reliable, it is possible that the top EV battery companies will stay at the forefront. China makes half of all EV batteries in the world. This has created a vibrant market. In an effort to reduce carbon emissions, governments also subsidize EV purchases.
The market is dominated mainly because of the dominance of six EV batteries manufacturers. Panasonic, LG Energy Solution, SK On, BYD, and Contemporary Amperex Technology Co. Limited all accounted for a third or more of the EV battery market in 2021. While Panasonic was the largest manufacturer of EV batteries in 2021, it is not a sole supplier of the technology. It produces batteries in a variety of ways, including through a joint venture with Tesla. BYD has risen to the third spot in the market over the past few years.
The three largest producers of EV batteries are China, Korea, Japan. These countries account to 85% the global market. In 2021, SK On, LG, and LG Energy Solutions were the fifth, fourth, and fifth largest producers of EV batteries. The company intends to invest $1B in research and technology over the next 2 years. SK On plans to become the world's leading EV battery manufacturer in future.
SK On, a Korean electric vehicle battery manufacturer, is based in Seoul. It plans to be the world's largest EV battery manufacturer by 2030. Despite its modest entry in the EV market, the Korean company has a large backlog. The company has been working with battery technologies for more a decade. SK On will also oversee a network that will include factories all over the globe. It expects to produce 44 millions units by 2030.
SK On produces solar power products, in addition to its focus primarily on EV batteries. One active production plant is in place and two more will be developed over the next two year. Additionally, the company will be able to establish a global network through partnerships. Its coCEO is aiming to make the company by 2030 the world's largest manufacturer of EV batteries.
BYD (a Korean company) is the second-largest global EV battery producer. It is also developing lithium-ion, and sodium-ion cell. BYD makes hybrid and electrical trucks. The company is backed by Warren Buffett and other investors. In 2021, its market share was 8.8 per cent. BYD shares were worth $5.3 Billion in September.
Chinese company CATL developed sodium-ion batteries that can deliver 210 gwh for every kilogram of pack weight. The company is a major EV battery supplier to automakers. In addition to the company's EV batteries, it supplies lithium-ion and sodium-ion battery swap brands, including EVOGO. It also collaborates with Volkswagen.
FAQ
What type of job is there for a car mechanic?
There are three main areas of employment for car mechanics:
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Automotive repair shops
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Dealerships
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Independent garages
Automotive repair shops
Most people think of this as the first step to becoming a mechanic. This is the best way to get started. Either you can work in a shop that is owned by another person or start your own business.
You will need to join a union if you want to work in a shop. Once accepted into the union you will be trained by the union.
You'll be ready for work once you have completed the training.
If you decide to open your own garage, you'll need to register with the government. After registering, you'll be required to meet certain standards.
After you register, you will be granted a license for your garage to operate.
Your license will allow you to sell spare parts and do minor repairs. You can't fix major engine problems with your license.
As well as selling spare parts you will need to offer advice and direction to customers.
Dealership jobs
Most dealerships employ mechanics who specialize in one area of the car. They might specialize in one area, such as brakes and tires.
However, dealerships may also employ general mechanics who are able to handle all aspects related to car repairs.
These positions often require applicants that they undergo special training before being allowed work. Employers are able to choose which candidates will best suit their position.
Some dealerships will hire graduates straight from college. These graduates already have a basic understanding of mechanical engineering, so they are able to learn all about cars.
Independent garages
Independent garages do not belong to any dealership. They tend to be focused on high-quality service.
Independent garages have the ability to afford higher wages, as they aren’t associated with any one company. These jobs generally pay better than those at dealerships.
Independent garages don't necessarily make for better work environments. Many business owners prefer to own their businesses and not delegate the responsibility to others.
This could lead to you working long hours with little control over your day.
Additionally, you should expect to earn lower wages if employed by a dealership.
There are many jobs that can be switched between. It is possible to switch between different types of jobs if your current employer would prefer you to work at a dealer.
Alternativly, you can apply directly to the garage owner if you are interested in working at an independent garage.
Unfortunately, finding a new job can be difficult. Many other factors can also influence the amount you earn.
Consider, for example, what type of vehicle you are repairing and whether additional labor charges will apply.
What are the requirements of an auto technician?
You must have graduated high school or GED, with excellent English and math grades. You also need to be able to read and write well. To be allowed to work, you must pass a written and practical test.
Is it really worth becoming a mechanic.
The answer to this question depends on what you want from life if you are looking for money, then yes, but if you're looking for meaning and purpose, then no.
It's not worth learning mechanics if you don’t have the skills. You'll waste your time. It's not going make you millionaire. You won't become famous. You won't be famous.
You'd need to spend years learning how everything works. Also, you would need to hire someone else to fix it if it broke down. This is why most people don’t bother. They find something else to do.
Summarising, if your goal is to make lots of money, go for it. The mechanic's profession is not the right place for you if it means that you will live a fulfilled life.
Statistics
- The U.S. Bureau of Labor Statistics (BLS) reports that the job outlook for automotive service technicians and mechanics is expected to decline by 4% from 2019 to 2029. (indeed.com)
- Apprentice mechanics earn significantly less hourly than mechanics who have completed training, with a median wage of approximately $14.50 an hour, according to PayScale. (jobhero.com)
- There were 749,900 jobs available for automotive service technicians and mechanics in 2016, which is expected to grow by six percent through 2026. (jobhero.com)
External Links
How To
How to obtain a mechanic certificate
These certifications are for those who wish to be certified as automotive technicians. They give an overview of the various areas of auto repair.
The program includes 12 hours of classroom instruction as well as three months of training on the job at a participating dealer. Students must complete at least 60 hours of classroom work per semester. They also need to pass a written test that covers theory and practical questions. After completing the coursework students are eligible to take the National Institute for Automotive Service Excellence state examination (ASE). ASE certification is required for employment as an automotive service technician.