CATL, BYD remained world’s top two battery producers in first quarter – research

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Global battery usage for electric vehicles (EVs, PHEVs, and HEVs) reached 133.0 GWh in the first quarter of 2023, representing a year-on-year growth of 38.6%, according to data from Korean renewable energy consultancy SNE Research. 

Chinese battery manufacturer CATL recorded usage of 46.6 GWh during the period, a 35.9% year-on-year increase, securing a global market share of 35.0% and ranking as the top producer. Chinese automaker BYD accounted for 16.2% of the global market, maintaining its position of second in the international rankings. 

SNE Research estimated that CATL will retain the top spot for the second quarter of this year, thanks to partnerships with automakers such as Tesla for Model 3/Y, Chinese automaker SAIC’s Mulan, and GAC Group’s Aion Y. The price-competitive BYD is expected to experience significant growth in the coming months however, as the company plans to enter the European and Korean markets.