CATL and BYD, two prominent Chinese electric vehicle (EV) battery manufacturers, continued to dominate the global market in the first two months of this year. Their combined EV battery installed capacity in January-February reached 71.5 GWh, representing 55.1 percent of the total global capacity.
According to data released by South Korean market researcher SNE Research, the global EV battery usage in January-February surged to 129.9 GWh, marking a 40.3 percent increase compared to the same period last year.
CATL led the pack by installing 49.6 GWh of EV batteries during the first two months of the year, showcasing a 39.7 percent growth from the previous year. The Chinese battery giant maintained its position as the world’s top battery supplier with a market share of 38.2 percent. Major automakers such as Tesla, BMW, Mercedes-Benz, and Volkswagen continue to rely on CATL’s batteries for their electric vehicles.
BYD, on the other hand, installed 21.9 GWh of power batteries in January-February, demonstrating an 81.0 percent increase from the previous year. The company secured the second position with a 16.9 percent market share, indicating a steady growth trajectory.
LG Energy Solution, a South Korean company, ranked third with an installed power battery volume of 12.7 GWh in January-February. The company held a 9.8 percent market share during the same period.
Other notable players in the top 10 list included SK On from South Korea, Panasonic from Japan, and CALB from China. Gotion High-tech, Samsung SDI, Svolt Energy, and Eve Energy from China also made it to the list, showcasing the competitive landscape of the EV battery market.
Overall, the dominance of CATL and BYD in the global EV battery market highlights China’s stronghold in the electric vehicle industry. With the growing demand for electric vehicles worldwide, these companies are well-positioned to capitalize on the market opportunities and drive innovation in sustainable transportation solutions.
