Enevate Funding, Investors & Competitors

Tesla is a vertically integrated battery electric vehicle automaker and developer of real world artificial intelligence software, which includes autonomous driving and humanoid robots. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi truck. Tesla also plans to begin selling a sports car and offer a robotaxi service. Global deliveries in 2025 were nearly 1.64 million vehicles. The company sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network and an auto insurance business.

CATL, headquartered in Ningde, Fujian Province, is a global leading battery manufacturer founded in 2011. The company specializes in the development and production of lithium-ion batteries for EVs and energy storage systems. CATL is the largest EV battery manufacturer in the world and leads the industry in innovative battery technology development for higher-energy density and safety, longer battery service life and super-fast charging. CATL is also involved in the manufacturing of cathode and other related battery materials. Through its subsidiary Brunp, it works with customers to create a closed-loop battery life cycle from production, application, to recycling.

LG Energy Solution is the third-largest battery maker for electric vehicles with about 11% global share in 2024, according to SNE Research. The EV battery segment is the largest revenue contributor, which accounted for more than 60% of total revenue in 2024. LGES also manufactures batteries for mobility, mobile phones, laptops, electrical devices, and energy storage systems. The company was spun off from LG Chem’s battery division in December 2020 and listed on the Korea Exchange in January 2022. It has global manufacturing facilities in Korea, China, Poland, and the United States. Key customers include General Motors, Tesla, Volkswagen, Hyundai, and Stellantis.

SK on is a Seoul-headquartered battery maker producing prismatic and pouch lithium-ion cells for electric vehicles from its Gwangmyeong and Seosan plants. Spun off from SK Innovation in 2021, it supplies packs to Ford Mustang Mach-E and Hyundai Ioniq 5. The company advances 46-series cells with NCM cathodes and partners with Solid Power on solid-state tech. SK on targets 200 GWh capacity by 2025.

SVOLT Energy Technology is a Chinese electric-vehicle battery maker spun off from Great Wall Motors in 2018, specializing in cobalt-free and long-life solid-state batteries. The company operates production bases across multiple Chinese cities, including Changzhou, Suining, Huzhou, Ma'anshan, and Nanjing, with plans for manufacturing capacity in Europe. SVOLT supplies battery cells to automakers including Great Wall Motors, Geely, and Stellantis, and reported operating revenue of CNY 4.47 billion in 2021, up from CNY 1.74 billion in 2020.

Sunwoda Electric Vehicle Battery is a provider of lithium-ion battery pack solutions for electric vehicles, leveraging proprietary battery management systems and automated production lines for cell sorting, module assembly, and pack integration. The company supplies new energy vehicle manufacturers with high-safety packs designed for passenger cars and commercial fleets.

Farasis Energy is a global lithium-ion battery manufacturer producing power systems for electric vehicles, energy storage grids, and commercial applications. The company operates production facilities in China and the United States with partnerships including BMW for automotive battery supplies. Farasis Energy supplies high-energy-density cells addressing transportation electrification and renewable grid integration needs.

QuantumScape Corporation is an American company that researches and develops solid-state rechargeable lithium metal batteries for use in electric cars. It was founded in 2010 and is headquartered in San Jose, California, employs around 850 people. Major investors include Volkswagen Group and Bill Gates.

Yinlong Group (Zhuhai Yinlong New Energy) is a Chinese manufacturer of new energy buses, including battery hybrid zero-emission models. The company has ranked among the top producers of buses over 7 meters in length in China's new energy vehicle market. Gree Electric became Yinlong's controlling shareholder in 2021 after acquiring a majority stake through a judicial auction.

Ola Electric Mobility Ltd is a pure EV player in India and is building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. The company manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory. Its business focuses on capturing the opportunity arising out of electrification of mobility in India and it also seeks opportunities to export its EVs in select international markets in the future.

StoreDot is a Herzliya-headquartered battery innovator specializing in extreme fast-charging lithium-ion cells for electric vehicles and consumer electronics. Its silicon-dominant anodes enable 80% charge in five minutes at room temperature. The company licenses technology to partners like VinFast for automotive integration. Founded in 2012, StoreDot has demonstrated prototypes at CES and secured partnerships with TDK for mobile applications using organic compound electrodes.

Eos Energy Enterprises Inc designs develop, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial & industrial (C&I) applications. The solutions are used in the utility sector, the renewable energy sector, and the industrial sector. It's flagship product Eos Znyth is a stationary battery energy storage system.

Amprius Technologies Inc is engaged in the production of silicon anodes for high-energy-density lithium-ion batteries. The company develops, manufactures and markets lithium-ion batteries for mobility applications, including the aviation, electric vehicle (EV) and light electric vehicle (LEV) industries. The company's batteries are used for existing and emerging aviation applications, including unmanned aerial systems, such as drones and high-altitude pseudo satellites.

T1 Energy Inc is an energy solutions provider building an integrated U.S. supply chain for solar and batteries. The group manufactures and sells photovoltaic (PV) solar modules in the United States for U.S. customers.

Nyobolt is a Cambridge-based developer of lithium-sulfur batteries for electric vehicles emphasizing ultra-fast charging. The technology achieves 200 kW power output, recharging from 10 to 90 percent in under five minutes while storing 400 Wh/kg energy density. Founded in 2020 from University of Cambridge research, Nyobolt partners with H1 Vehicle Intelligence for prototype testing and raised $25 million in Series A funding.

ADS-TEC Energy PLC produces, develops, and markets battery-buffered EV charging systems infrastructure, battery storage systems, and cloud-based services that enable the customer to control and manage the system. ADSE generates revenue mainly through the sale of its products, services, and Big-LinX. Geographically, it derives a majority of its revenue from Germany.

Phylion Battery, founded in 2003 and based in Suzhou, China, researches, develops, manufactures, and sells lithium-ion batteries for electric bicycles, electric logistics vehicles, electric vehicles, and energy storage systems. The company holds international patents for its lithium manganese anode material and operates production bases in Suzhou and Chuzhou along with subsidiaries in Europe and India, exporting batteries to 22 countries. Phylion has sold more than 21 million battery units cumulatively and has led global light-electric-vehicle battery sales for four consecutive years, complementing its core technology with high-energy iron lithium chemistry for specialized applications.

Kempower Corp designs, manufactures and commercializes charging solutions and services for electric vehicles and machines. Geographically, it derives a majority of its revenue from Rest of Europe regions and it also has a presence in Nordics, North America and Rest of the World. Its charging solutions include Kempower Power Unit; Kempower Movable Charger; Kempower Station Charger; Kempower ChargEye for Depots; Kempower ChargEye for CPOs and others.