China’s CATL Tops Rank for Global EV Battery Installation

Global electric vehicle battery installations totaled 341.3 gigawatt-hours in the first three quarters this year, rising 75.2 percent from the same period last year. The growth rate was particularly impressive in China, where domestic firms dominated, with Contemporary Amperex Technology ranking first with 119.8 GWh of installed power batteries.

CATL’s installed power battery capacity from January to September surged 100.3 percent from last year, with a global market share of 35.1 percent, up 4.4 percentage points, The Paper reported today, citing data released by global information agency SNE Research.

South Korea’s LG Energy Solution ranked second with 48.1 GWh of installed capacity, rising 14.1 percent, with a global market share of 14.1 percent. China’s BYD ranked third with 43.6 GWh, a whopping 177 percent gain, with its market share jumping from 8.1 percent last year to 12.8 percent.

In terms of overall market share, in the first nine months of the year, the market share of Chinese battery companies reached about 57.8 percent, up 12.7 percentage points from last year, while the market share of Korean companies was down 7.3 percentage points to 25.2 percent.

In September, the global EV battery installation totaled 54.7 GWh, up 61.2 percent from last year.

China’s CATL ranked first globally with 19.9GWh of installed capacity. In August, BYD’s battery installation overtook LG Energy Solution to rank second but the Korean firm saw an installation capacity of 8.8 GWh in September to take back second place. BYD was third globally with a power battery installation of 7.3 GWh.

Source: Yicai