The faces of the world's biggest auto suppliers are changing—and fast.
As auto makers race to roll out new electric vehicles to meet rising demand and government rules, battery manufacturers are rising on the list of the world's largest auto suppliers, compiled by Automotive News, a Rubber News sister publication.
The annual list, which ranks companies by global sales to auto makers, for the first time features a number of major EV battery makers. CATL, of China, ranks No. 5 on the list, with estimated 2022 global automotive revenue of $33.5 billion.
Companies such as CATL, a manufacturing giant, and Samsung SDI of South Korea (estimated 2022 global automotive revenue of $15.62 billion), have been around for years, producing thick portfolios of consumer and industrial goods. But the awakening of the EV market in China, the U.S. and Europe is now boosting their automotive business.
The list of top suppliers this year reflects a rapidly changing automotive supply chain, as relative newcomers and legacy suppliers alike vie for their slice of the rapidly growing EV market—and as competition heats up.