CATL and BYD continued to hold the top two positions as the world's largest battery makers in the January-October period, both increasing their share slightly from January-September.
Contemporary Amperex Technology Co Ltd (CATL, SHE: 300750) and BYD (HKG: 1211, OTCMKTS: BYDDY) remained the world's top two largest battery makers in the January-October period, both increasing their share slightly from January-September.
In the January-October period, global electric vehicle (EV) battery usage totaled 686.7 GWh, up 25.0 percent from 549.4 GWh in the same period last year, according to data released today by South Korean market research firm SNE Research.
CATL's EV battery installations in the January-October period amounted to 252.8 GWh, up 28.3 percent from 197.0 GWh in the same period last year.
The Chinese power battery giant continues to rank first in the world with a 36.8 percent share and remains the only battery supplier in the world with a market share of more than 30 percent.
This is higher than its 35.9 percent share in the January-October 2023 period and slightly higher than its 36.7 percent share in the January-September 2024 period.
BYD's power battery installations in the January-October period were 115.3 GWh, up 31.3 percent from 87.8 GWh in the same period last year.
The company ranked second in the January-October period with a 16.8 percent share, up from 16.0 percent in the same period last year and from 16.4 percent in the January-September period.
BYD's power batteries are currently used mainly in its own vehicles, although other companies including Nio (NYSE: NIO) and Xiaomi (HKG: 1810, OTCMKTS: XIACY) have started using its batteries as well.
In the January-October period, BYD's new energy vehicle (NEV) sales were 3,250,532 units, up 36.49 percent year-on-year, according to its previously announced figures.
In November, BYD sold 506,804 NEVs, the second time it has surpassed the 500,000 mark and the sixth consecutive month of record sales.
BYD fell below LG Energy Solution in EV battery share in the January-February period, but regained ground on the South Korean company in the January-March period and has since maintained its second-place position.
LG Energy Solution's installed power battery volume in the January-October period was 81.2 GWh, up 6.4 percent year-on-year.
The South Korean company continued to rank third in the January-October period with a share of 11.8 percent, down from 13.9 percent in the same period last year and from 12.1 percent in the January-September period.
China's CALB was fourth with a 4.8 percent share, South Korea's SK On was fifth with 4.5 percent, and Japan's Panasonic was sixth with 4.1 percent.
South Korea's Samsung SDI, China's Gotion High-tech, Eve Energy, and Sunwoda ranked seventh, eighth, ninth, and tenth, respectively, with shares of 3.8 percent, 2.6 percent, 2.4 percent, and 2.1 percent, respectively, in January-October.
China EV battery installations in Oct: CATL share at 42.78%, BYD 26.73%
Related posts on CnEVPost
