CATL extends its lead over LG Energy Solution as the

CATL extends its lead over LG Energy Solution as the largest manufacturer of EV batteries

According to the latest statistics from SNE Research, the consumption of traction batteries for electric vehicles in 80 countries around the world increased by 120.9% to a capacitive 231.2 GWh by November last year compared to the same period in 2020. The Chinese CATL continues to be the market leader with a 29% share, followed by the Korean LG Energy Solution with 22.2%.

Image source: Pixabay

Image source: Pixabay

It should be noted that CATL controlled 28.2% of the market last October, while LG Energy Solution had a 23% share. The growth in the production of CATL batteries is well above the market average – in November it was 237.6% compared to the previous year. The Korean LG Energy Solution has increased the production volume of batteries much more modestly by 90.6%.

The Japanese company Panasonic still holds third place with 13.6% of the world market and an increase in deliveries of 36.5%. In fourth place is the Chinese BYD, which expanded the use of its batteries by 238.1% and thus even outperformed the leading CATL in this indicator.

Fifth place is rival SK On, which took 5.7% of the market up 123.2% in November, while Samsung SDI ranks sixth at 4.8% and up 61.4%. Many battery manufacturers are showing serious ambitions to significantly transform the market for traction batteries for electric vehicles in the coming years. The automobile manufacturers themselves, who are involved in this type of activity both independently and in cooperation with partners, will also make themselves felt.

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Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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