Chinese manufacturers capture 56 of the global EV battery market
Hardware

Chinese manufacturers capture 56% of the global EV battery market

According to a study by SNE Research, the share of the Chinese CATL in the global traction battery market rose from 28.8% to 34.8% year-on-year in the first half of this year – the company is the absolute leader among the top ten global manufacturers of batteries for electric vehicles. Overall, the share of Chinese business in the top ten of each market was around 56%.

    Image source: CHUTTERSNAP/unsplash.com

Image source: CHUTTERSNAP/unsplash.com

During the same period, China’s BYD, the third largest behind CATL and LG Energy Solution, increased its market share to 11.8% from 6.8%. The top ten manufacturers include six Chinese companies (in addition to CATL and BYD, these are CALB, Gotion, Sunwoda and SVOLT) and three South Korean and Japanese Panasonic.

LG Energy Solution ranked second, with its share falling from 23.8% to 14.4%. South Korean companies are generally losing ground. While they made up 34.9% of the market in the first quarter, they now make up 25.8%. Samsung SDI’s share fell to 4.9% from 5.8%, while SK On rose to 6.5% from 5.3%. Japanese Panasonic’s share fell from 15% to 9.6%.

    Image source: SNE Research

Image source: SNE Research

Currently, the presence share of Chinese battery manufacturers is growing both in the North American and European markets as well as in the domestic Chinese market – manufacturers from the Middle Kingdom are actively investing in the industry. It is known that at least 85 battery factory construction projects have been launched in China, with the total investment exceeding $88.4 billion.

It is worth noting that the Chinese company is even successfully trying to penetrate the South Korean market, which has traditionally been dominated by local battery manufacturers. For example, the Kia Niro electric model using CATL traction batteries will be shown here in June, while SsangYong Motor plans to launch an electric vehicle using BYD batteries next year. In addition, Hyundai and CATL recently signed a memorandum of understanding to jointly develop battery technologies.

About the author

Dylan Harris

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

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