CATL Ranks 1st in Non-China Battery Markets... LG Energy Solution 2nd

Source=SNE Research

China's CATL has surpassed LG Energy Solution to become the number one in the global battery market excluding China.

According to energy market research firm SNE Research on the 8th, CATL recorded a market share of 25.8% with 5.7GWh, growing 28.5% compared to January last year, securing the top position. CATL is rapidly expanding its market share overseas beyond the Chinese domestic market. The company supplies batteries to global automakers such as Tesla, BMW, Mercedes-Benz, Hyundai Motor, and Kia.

LG Energy Solution showed a usage volume of 5.4GWh, growing 28.5% compared to the same period last year, and ranked second with a market share of 24.4%, 1.4 percentage points behind CATL. Samsung SDI ranked fourth with 2.5GWh, up 44.2% from last year, holding an 11.1% market share, and SK On ranked fifth with 2.1GWh, up 19.5%, holding a 9.2% market share. The combined market share of the three domestic companies fell by 0.1 percentage points year-on-year to 44.7%. Panasonic of Japan, ranked third, experienced a decline with battery usage of 3.0GWh in January, down 9.5% from the previous year.

The total battery usage installed in pure electric vehicles, plug-in hybrid vehicles, and hybrid vehicles sold worldwide excluding China in January this year was 319.4GWh, an increase of 43.2% compared to the same month last year.

SNE Research stated, "As the growth rate of global electric vehicle market demand slows down in 2023, the call for slowing down electric vehicle adoption is gaining momentum, and automakers and battery companies are closely monitoring political changes in the US and Europe," adding, "While the transition to electric vehicles is undoubtedly a long-term trend, hybrids are expected to perform strongly in the short term."

This content was produced with the assistance of AI translation services.