LFP Batteries

CATL will provide technology and service support for the production of the LFP battery plant, while Ford will be responsible for cell and vehicle integration.

BYD overtook CATL in LFP market share again after six months, the last time being in July 2022.

For the full year 2022, CATL's share of China's power battery market was 48.2 percent and BYD 23.45 percent.

BYD's power battery installation volume in November was 8.94 GWh, ranking second with a 26.09 percent share.

BYD ranked second with 25.36 percent share, CALB and Gotion High-tech ranked third and fourth with 6.76 percent and 4.52 percent shares respectively.

CALB ranked third in September with a 6.16 percent share, while Gotion High-tech ranked fourth in September with a 4.33 percent share.

LFP batteries are the right choice for China to avoid resource supply constraints, as the country has sufficient lithium resources but a severe shortage of cobalt and nickel, said BYD's chairman.

CATL continues to rank first with a 46.79 percent share, while BYD continues to rank second with a 21.91 percent share.

CATL continued to rank first in July with a 47.19 percent share, but down from 49.6 percent in June. BYD's share was 25.23 percent, its second highest on record.

CATL will provide LFP battery packs for the Ford Mustang Mach-E sold in North America starting next year and for the F-150 Lightning starting in 2024.