Gotion High-tech

Gotion plans to set up the institute with Hong Kong-listed Envision to conduct research on battery energy storage system technologies and business models.

As a comparison, CATL and BYD's shares in 2022 were 36.2 percent and 13.9 percent, respectively.

CATL's share of China's EV battery market increased by 4.93 percentage points in January from December, while BYD's share decreased by 4.37 percentage points.

Gotion said further reductions in raw material costs and the introduction of Volkswagen's management system have helped it improve efficiency.

CATL and BYD both saw their share of the Chinese power battery market increase slightly in December.

CATL's share in the January-November period was higher than the 35.7 percent it achieved in the same period last year, and higher than the 36.9 percent in the January-October period.

Located in the Silicon Valley area, the plant is Gotion's first US battery pack production line, targeting the Americas energy storage system market.

CATL's share increased by 1.1 percentage points in November from October, while BYD's decreased by 3.5 percentage points.

Gotion's joint venture plant in Thailand has a planned capacity of 2 GWh of battery packs per year for the first phase, which will be expanded to 8 GWh in the future.

CATL's share continues to rank first in the world and remains the only global battery supplier with a market share of more than 30 percent.