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Read on to learn about the top US and Chinese EV stocks, and the batteries and battery suppliers they’re using for their current and upcoming models.
Market cap: US$776.95 billion
First on the list is EV maker Tesla, which has brought significant attention to the EV narrative.
The company’s story starts in 2003, when it was founded by Martin Eberhard and Marc Tarpenning. Elon Musk invested in the company in 2004, becoming the largest shareholder, and eventually became its CEO in 2008. A well-known story for battery metals investors, the company made headlines in 2014 when it broke ground at its first gigafactory in Nevada, US, an unthinkable proposition at the time. Outside of the US, Tesla also has gigafactories in China and Germany.
In partnership with Panasonic (TSE:6752), at its Nevada gigafactory Tesla produces batteries with nickel-cobalt-aluminum (NCA) cathodes — different from most of Tesla’s competitors, which use a nickel-cobalt-manganese (NCM) mix.
Tesla announced in 2021 that it was changing the battery chemistry for its standard-range vehicles to lithium-iron-phosphate (LFP) cathodes, which are cobalt- and nickel-free. China’s largest battery maker, CATL (SZSE:300750), is a key supplier of LFP batteries for Tesla, particularly for the Shanghai and Berlin gigafactories.
South Korea’s LG Energy Solution (KRX:373220) is working on supplying Tesla with batteries using nickel-manganese-cobalt-aluminum (NMCA) cathodes.
Tesla’s prime EV position has taken a hit in the first quarter of 2025 as Elon Musk’s political activities in the United States have generated a lot of negative publicity for the brand. However, the company is still the largest EV maker by market cap globally.
2. BYD Company (OTC Pink:BYDDF,HKEX:1211)
Market cap: US$143.78 billion
Leading Chinese EV maker BYD Company was founded in 1995 and is a top producer of several kinds of rechargeable batteries, including nickel-metal hydride batteries and NCM batteries.
BYD has a vertically integrated supply chain, from mineral battery cells to battery packs.
In the fourth quarter of 2023, BYD passed Tesla in terms of global EV sales, selling 526,409 EVs compared to Tesla’s 484,507 units sold during that quarter.
Backed by Warren Buffett, in 2020 BYD officially launched its Blade battery, a less bulky LFP battery. The following year, the company announced that it would use the Blade LFP batteries for all of its pure electric models.
The company is working on using sodium-ion batteries — this battery type is expected to be seen in 9 percent of global EV sales by 2033, according to a 2023 forecast from Fastmarkets.
In April 2025, BYD released two new EV models, the Han L sedan and Tang L SUV, based on its new Super e-platform, which allows users to add 400 kilometers (248 miles) of range in five minutes of charging, and charge to 100 percent in 20 minutes.
3. Li Auto…
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