China's CATL continues to strengthen its position as the world's largest supplier of power batteries.
Adoption of CATL batteries increased 272.1 percent from January to May this year compared to the same period in 2020, according to data released by market research firm SNE Research.
CATL's battery installations from January to May reached 27.6 GWh, with a global market share of 31.2 percent, 9.8 percentage points higher than the 22 percent of the same period last year, the data shows.
LG Energy Solution was in second place, with 20.5 GWh of batteries installed in the first five months, up 166.7 percent year-on-year. The company's global market share was 23.1 percent, slightly higher than the 22.8 percent in the same period last year.
Panasonic was third with a 14.7 percent share, and BYD was fourth with a 6.9 percent share.
China's CALB and Gotion Hi-Tech ranked 7th and 8th, respectively, with shares of 2.8 percent and 1.9 percent, the data shows.
From January to May this year, total global electric vehicle battery usage reached 88.4 GWh, 2.6 times that of the same period last year, according to the data.
SNE Research noted that Chinese battery companies are rapidly expanding their business footprint to Europe, where CATL's factory is under construction. BYD's FinDreams is also preparing for its first overseas battery plant.
According to data released last month by the China Automotive Battery Innovation Alliance, CATL installed 4.28 GWh of power batteries in China in May, with a 43.9 percent market share.
From January to May, CATL installed 20.32 GWh of power batteries in China, with a 49.1 percent market share.
More From CnEVPost
