Industry watchers have said the global auto industry supply chain would see some major changes as electric vehicles gain a bigger foothold. And in its annual ranking of auto suppliers, our sister paper Automotive News says that is holding true as battery suppliers now are among the 10 largest suppliers in the world.
China-based battery maker CATL is No. 5 on its global list, with $33.5 billion in sales to automakers. And South Korean battery maker SK On has seen its sales increase by 125 percent.
That doesn't mean that traditional suppliers have disappeared, of course.
The 10 largest global supplier list includes companies with plastics operations such as Forvia (formerly Faurecia), Denso and ZF.
Magna International Inc. is No. 4 on the global list and No. 1 among North American suppliers. That North American list also includes Lear, Adient and Flex-N-Gate.
But each one of those traditional suppliers is investing in new technology to ensure they remain competitive in a future auto industry. If they haven't, then they've "already missed the boat," Michael Robinet, executive director of automotive advisory services at S&P Global Mobility, told AN.