CATL's share of China's EV battery market declined further in May, while BYD continued to increase, as the latter's NEV sales grew further.
CATL's share of China's electric vehicle (EV) battery market declined further in May, while BYD (HKG: 1211, OTCMKTS: BYDDY) continued to increase as its new energy vehicle (NEV) sales grew further.
In May, China's installed base of power batteries was 39.9 GWh, up 41.2 percent year-on-year and up 12.6 percent from April, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL installed 17.29 GWh of power batteries in May, continuing to rank first with a 43.87 percent share, but down 0.77 percentage points from April's 44.65 percent share.
BYD's power battery installed capacity was 11.42 GWh in May, ranking second with a 28.97 percent share, up 0.6 percentage points from 28.37 percent in April.
In April, CATL's share decreased by 0.22 percentage points from March, while BYD increased by 1.58 percentage points at that time.
The continued growth in BYD's share of the EV battery market could be due to further growth in its NEV sales. The company sold 331,817 NEVs in May, up 5.93 percent from 313,245 in April, according to data it released earlier this month.
CALB had 3.00 GWh of power batteries installed in May, placing it in third place with a 7.61 percent share, up 0.37 percentage points from 7.24 percent in April.
Eve Energy ranked fourth in May with an installed base of 1.54 GWh and a 3.92 percent share.
China's lithium ternary battery installed capacity in May was 10.4 GWh, accounting for 26.0 percent of the total, up 14.7 percent year-on-year and up 4.3 percent from April.
Lithium iron phosphate (LFP) batteries were installed at 29.5 GWh, accounting for 74 percent of the total, up 54.1 percent year-on-year and up 15.8 percent from April.
CATL, CALB and Svolt Energy were the top three in terms of installed capacity of ternary batteries in May, with shares of 68.24 percent, 10.60 percent and 5.49 percent respectively.
In the LFP battery market, BYD, CATL, and CALB were the top three in terms of installed capacity in May, with shares of 38.68 percent, 35.76 percent, and 6.62 percent, respectively.
