Six Chinese battery makers made into world’s Top 10 in July, Chinese players extended lead over Japanese, South Korean rivals – research
DATA
Six Chinese battery makers made into world’s Top 10 in July, Chinese players extended lead over Japanese, South Korean rivals – research
DATA

Six Chinese battery makers made into world’s Top 10 in July, Chinese players extended lead over Japanese, South Korean rivals – research

 

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Six Chinese companies ranked among the world’s top 10 electric vehicle power battery makers by installations in July, with a combined market share of over 62%, according to data from Seoul-based SNE Research.

Global EV battery usage jumped 83% in July from a year earlier to 39.7 gigawatt hours, the data showed, and Chinese vendors appear to have expanded their advantages over Japanese and South Korean rivals.

CATL saw battery installations surge 95% year on year in July, with CALB, Gotion, Sunwoda and Svolt each seeing a three-digit gain of 186% -532%. South Korean vendor SK On’s installations grew by 67%, and Samsung SDI saw a rise of 66%. Japan’s Panasonic saw growth of 11% and for South Korea’s LG Energy Solution the rise was 5.9%.

Global EV battery installations tallied 240.8 GWh in the first seven months of the year, up 76% from the same period of 2021. CATL ranked first with 83.6 GWh, a 111% increase from a year ago. LG Energy Solution had 9% growth to rank second with 34.3 GWh, followed by BYD, whose installations totaled 30.3 GWh but registered annual growth of 205%.

The super-fast growth among Chinese battery vendors is mostly down to strong domestic demand, SNE Research said, while the slowdown in growth at South Korean suppliers was largely because of changes in the European and US markets, including skepticism about electric vehicles and limited subsidy policies. In July, China’s domestic power battery installations jumped 114% on year to 24.2 GWh, according to the China Automotive Power Battery Industry Innovation Alliance.