Top 5 motor suppliers by GW deployed year-to-date
Top 5 motor suppliers from January through July control more than half the market
Year-to-date, Tesla is the leading motor supplier globally, deploying 286 GW of motor power in its vehicles from January through July of this year, up 64% compared to the same period last year.
In second place, BYD Auto Industry deployed 217 GW over the same period, up 85% compared to the first seven months of 2022. In China, BYD’s namesake motor maker also supplies a few other OEMs, including Denza, a BYD-Mercedes Benz joint venture, and Toyota.
Toyota Group Companies, including Denso and Aisin Seiki, claim a distant third spot with deployment of 150 GW year to end-July, which is an increase of 23% compared to the same period last year.
BMW and Hyundai Mobis are fourth and fifth with deployments of 59 GW and 56 GW, respectively, up 90% and 20% year-over-year. Over the same period, BMW’s growth rate in motor power deployment was third fastest among the top 10 suppliers, behind UAES (a Bosch-backed supplier to Li Auto) and Valeo.
In total, from January through July of this year, 1,420 GW of motor power were deployed onto roads globally in newly-sold EVs (including plug-in and conventional hybrids), 53% more than the same period the year prior.
Overall, the top 5 suppliers combined powered 54% of the market from January through July 2023.
Tesla buyers appreciate power
In July 2023, the sales-weighted average passenger EV sold globally, including BEVs, PHEVs and HEVs, had a motor power of 144 kW, up 16% year-over-year according to the Adamas EV Motor Materials Monthly intelligence service.
As with total motor power deployed year-to-date, Tesla also trumps BYD and Toyota on the basis of motor power per EV sold, averaging 285 kW in July 2023.
In second, BYD averaged 138 kW in July, a reflection of the fact that PHEVs make up nearly half its EV sales and its model line-up includes fewer performance vehicles than its US rival.
In third, Toyota’s average was less that a third of that deployed in Tesla’s S, 3, X, Y model line-up in July 2023, speaking to the former’s EV sales mix being dominated by over 90% HEVs.
Adamas take:
The EV motor market continues to show strong year-over-year growth led by the usual suspects, Tesla, BYD and Toyota – all major users of permanent magnet traction motors, translating to equally robust demand growth for NdFeB permanent magnets over the same period.
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