CATL remains world’s largest power battery maker in Sept, LG Energy Solution surpassed BYD to rank second – Research
CATL remains world’s largest power battery maker in Sept, LG Energy Solution surpassed BYD to rank second – Research

CATL remains world’s largest power battery maker in Sept, LG Energy Solution surpassed BYD to rank second – Research

 

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Global electric vehicle battery installations totaled 341.3 GWh in the first three quarters this year, rising 75.2% from the same period last year, according to Seoul-based SNE Research.

Chinese battery giant CATL’s installed power battery capacity in the period from January to September surged 100.3% from a year earlier, grabbing a global market share of 35.1%, remaining the world’s top battery maker. 

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

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%, up 12.7 percentage points from last year, while the market share of Korean companies was down 7.3 percentage points to 25.2%.

In September, the global EV battery installation totaled 54.7 GWh, up 61.2% 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.