CATL and BYD continued their dominance in the global electric vehicle (EV) battery market in January, accounting for 55.8 percent of the total 64.3 GWh worldwide. This data was revealed by South Korean market researcher SNE Research, showcasing the ongoing stronghold of these two Chinese companies in the industry.
CATL, with a 38.9 percent share, installed 25.0 GWh of EV batteries in January, maintaining its position as the largest EV battery maker in the world. The company’s market share slightly decreased from the previous year but remained above 30 percent, showcasing its strong presence in the market. Notably, CATL’s batteries are not only popular among Chinese EV manufacturers but also among global OEMs like Tesla, BMW, Mercedes-Benz, and Volkswagen.
On the other hand, BYD secured the second spot with a 16.9 percent share by installing 10.9 GWh of power batteries in January. The company’s market share increased from the previous year, highlighting its success in introducing competitive EV models to the market. BYD’s strategy of producing both batteries and EVs has contributed to its popularity and growth in the industry.
Other notable players in the global EV battery market included LG Energy Solution, SK On, Panasonic, CALB, Gotion High-tech, Samsung SDI, Svolt Energy, and Eve Energy. These companies held varying market shares in January, indicating the diversity and competitiveness within the industry.
The overall growth in global EV battery usage, reaching 64.3 GWh in January, reflects the increasing demand for electric vehicles worldwide. With key players like CATL and BYD leading the market, the future of EV battery technology looks promising, paving the way for a sustainable and eco-friendly transportation sector.
