CATL (HKG: 3750) and BYD (OTCMKTS: BYDDY) both saw their market shares rise in China's electric vehicle (EV) battery sector last month as smaller players declined.
China's power battery installations reached 84.1 GWh in October, marking a 42.1 percent year-on-year increase and a 10.7 percent month-on-month rise, according to data released today by the China Automotive Battery Innovation Alliance (CABIA).
CATL installed 36.14 GWh of power batteries in October, maintaining its top position with a 43.00 percent market share -- up 0.19 percentage points from September's 42.81 percent.
BYD ranked second with 17.89 GWh of battery installations in October, holding a 21.29 percent market share. This represents a 0.22 percentage point increase from its 21.07 percent share in September.
CALB (HKG: 3931) ranked third with 5.87 GWh of battery installations in October, accounting for 6.99 percent of the market share, a decrease of 0.39 percentage points from September.
Gotion High-tech ranked fourth in October with installations of 5.58 GWh and a 6.64 percent market share, increasing its share by 0.81 percentage points from September.
Eve Energy ranked fifth in October with installations of 3.26 GWh and a 3.88 percent market share, decreasing by 0.22 percentage points from September.
China's ternary lithium battery installations reached 16.5 GWh in October, accounting for 19.7 percent of total installations. This represents a 35.8 percent year-on-year increase and a 19.8 percent rise from September.
Lithium iron phosphate (LFP) batteries recorded 67.5 GWh of installations in October, accounting for 80.3 percent of total installations. This represents a 43.7 percent year-on-year increase and an 8.6 percent rise from September.
CATL, CALB, and Svolt Energy ranked as the top three suppliers for ternary battery installations in October, holding market shares of 72.79 percent, 9.27 percent, and 8.56 percent respectively.
In the LFP battery market, CATL, BYD, and Gotion led October installations with respective shares of 35.71 percent, 26.51 percent, and 8.21 percent.
China's October production of power batteries and other battery types reached 170.6 GWh, up 50.5 percent year-on-year and 12.9 percent month-on-month.
Ternary battery production in October reached 33.7 GWh, up 43.8 percent year-on-year and 7.0 percent month-on-month.
LFP battery production in October totaled 136.7 GWh, increasing 52.4 percent year-on-year and 14.5 percent month-on-month.
China exported 19.4 GWh of power batteries in October, comprising 11.5 GWh of ternary batteries and 7.9 GWh of LFP batteries.
