CATL (SHE: 300750) continued to dominate the Chinese electric vehicle (EV) battery market in May, with a market share increase of 3.44 percentage points compared to April. On the other hand, BYD (HKG: 1211, OTCMKTS: BYDDY) saw a decline in market share by 3.86 percentage points during the same period.
According to data released by the China Automotive Battery Innovation Alliance (CABIA), China’s power battery installation volume in May reached 57.1 GWh, marking a 43.1 percent year-on-year increase and a 5.5 percent sequential increase.
CATL led the market with battery installations totaling 24.47 GWh in May, capturing a 42.87 percent market share. This was a significant increase from April’s 39.44 percent share. Meanwhile, BYD’s battery installations totaled 12.84 GWh, accounting for a 22.49 percent market share, positioning the company in second place despite a decrease from the previous month.
CALB followed with 4.30 GWh of battery installations and a 7.53 percent market share, representing a slight increase from April. Gotion High-tech and Sunwoda secured the fourth and fifth positions with 3.00 GWh and 2.24 GWh of battery pack installations, respectively.
In terms of battery type, ternary lithium batteries accounted for 18.4 percent of the total installation volume in May, with a year-on-year increase of 1.6 percent and a month-on-month increase of 13.1 percent. LFP batteries, on the other hand, dominated the market with an installation volume of 46.5 GWh, representing 81.6 percent of the total and marking a year-on-year increase of 57.7 percent.
CATL, CALB, and LG Energy Solution were the top three players in ternary battery installations in May, securing market shares of 73.11 percent, 11.43 percent, and 6.46 percent, respectively. In the LFP battery market, CATL, BYD, and CALB led in installation volumes, with market shares of 36.05 percent, 27.58 percent, and 6.66 percent, respectively.
China’s production of power batteries and other batteries in May reached 123.5 GWh, reflecting a 47.9 percent year-on-year increase and a 4.4 percent month-on-month increase. The production of ternary batteries and LFP batteries also saw growth, with 27.2 GWh and 96.1 GWh produced in May, respectively.
Furthermore, China exported 13.5 GWh of power batteries in May, including 7.27 GWh of ternary batteries and 6.2 GWh of LFP batteries, showcasing the country’s presence in the global battery market.
In conclusion, CATL’s strong performance in the EV battery market in May solidified its position as a key player, while BYD faced a slight setback in market share. The growth in battery installations and production volumes indicates a promising outlook for the Chinese EV industry.
