CATL (SHE: 300750) saw its share of China's electric vehicle (EV) battery market grow in January from the month before, while BYD (HKG: 1211, OTCMKTS: BYDDY) saw its share slip on lower vehicle sales.
In January, China's power battery installations stood at 38.8 GWh, up 20.1 percent year-on-year but down 48.6 percent from December, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL installed 18.25 GWh of power batteries in January, continuing to rank first with a 47.08 percent share, up 1.6 percentage points from December's 45.48 percent share.
BYD's power battery installed capacity was 8.88 GWh in January, ranking second with a 22.90 percent share, down 0.29 percentage points from 23.19 percent in December.
For BYD, the fluctuation in battery installations was mainly related to its new energy vehicle (NEV) sales.
In January, BYD sold 300,538 NEVs, up 49 percent year-on-year but down 42 percent from December, mainly due to seasonal factors.
CALB had an installed base of 2.42 GWh of power batteries in January, ranking third with a 6.23 percent share, up 0.66 percentage points from 5.57 percent in December.
Gotion High-tech ranked fourth with 1.9 GWh of installed capacity and a 4.9 percent share in January.
China's lithium ternary battery installed capacity in January was 8.5 GWh, accounting for 22.1 percent of the total, down 32.2 percent year-on-year and down 40.4 percent from December.
Lithium iron phosphate (LFP) battery installed capacity was 30.2 GWh, accounting for 77.9 percent of the total, up 53.5 percent year-on-year, but down 50.5 percent from December.
CATL, CALB, and Svolt Energy were the top three in terms of installed capacity of ternary batteries in January, with shares of 73.98 percent, 12.79 percent, and 5.49 percent, respectively.
In the LFP battery market, CATL, BYD, and Gotion were the top three in terms of installed capacity in January, with shares of 39.48 percent, 29.36 percent, and 6.04 percent, respectively.
China produced 107.8 GWh of power and other batteries in January, up 63.2 percent year-on-year, but down 13.4 percent from December.
Production of ternary batteries in January was 20.7 GWh, down 10 percent year-on-year and down 20.4 percent from December.
LFP battery production in January was 87 GWh, up 102.8 percent year-on-year, but down 11.3 percent from December.
China exported 11.1 GWh of power batteries in January, including 6.8 GWh of ternary batteries and 4.3 GWh of LFP batteries.
Global EV battery market share in 2024: CATL 37.9%, BYD 17.2%
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