BYD (HKG: 1211, OTCMKTS: BYDDY) saw its share of China's electric vehicle (EV) battery market grow in February, as its vehicle sales rebounded, while CATL (SHE: 300750) saw a small decline.
In February, China's power battery installations came in at 34.9 GWh, up 94.1 percent year-on-year but down 10.1 percent from January, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL installed 15.43 GWh of power batteries in February, continuing to rank first with a 44.45 percent share, though down 2.63 percentage points from January's 47.08 percent share.
BYD's power battery installations were 8.20 GWh in February, ranking second with a 23.62 percent share, up 0.72 percentage points from January's 22.90 percent.
For BYD, the fluctuations in battery installations were mainly related to its new energy vehicle (NEV) sales.
The company sold 322,846 NEVs in February, up 163.95 percent from 122,311 a year ago and up 7.42 percent from 300,538 in January.
Gotion High-tech had an installed base of 1.81 GWh of power batteries in February, ranking third with a 5.22 percent share, up 0.33 percentage points from 4.90 percent in January.
Eve Energy ranked fourth in February with 1.73 GWh of installed capacity and a 4.97 percent share.
CALB was fifth with 1.68 GWh installed and 4.83 percent share in February. It ranked third in January with a 6.23 percent share.
China's Li-ion ternary battery installations were 6.4 GWh in February, accounting for 18.5 percent of the total. That's down 7.2 percent year-on-year and down 24.6 percent from January.
Lithium iron phosphate (LFP) batteries installed volume in February was 28.4 GWh, accounting for 81.5 percent of the total installed volume, an increase of 158 percent year-on-year, but 6 percent lower than in January.
CATL, CALB, and LG Energy Solution were the top three in terms of installed capacity of ternary batteries in February, with shares of 71.81 percent, 9.02 percent, and 7.56 percent, respectively.
In the LFP battery market, CATL, BYD, and Gotion had the highest installed base in February, with shares of 38.41 percent, 28.82 percent, and 6.34 percent, respectively.
China produced 100.3 GWh of power batteries and other batteries in February, up 128.2 percent year-on-year, but down 7 percent from January.
Production of ternary batteries in February was 19.3 GWh, up 28.6 percent year-on-year, but down 6.8 percent from January.
LFP battery production in February was 80.9 GWh, up 180.9 percent year-on-year, but down 7.1 percent from January.
China exported 12.8 GWh of power batteries in February, including 7.5 GWh of ternary batteries and 5.3 GWh of LFP batteries.
Global EV battery market share in Jan 2025: CATL 38.9%, BYD 16.9%
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