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China's BYD Keeps No.2 Rank in Global Electric Vehicle Battery Market, China’s CATL maintains top position with 39% market share
Total EV battery sales almost double in August, led by China
China’s CATL maintains top position with 39% market share
CATL, BYD hold almost half the global EV battery market
October 6, 2022 at 10:53 AM GMT+8
China’s BYD Co. cemented its position as the world’s second-largest EV battery maker, outselling South Korean rival LG Energy Solution Ltd. for a second straight month in August.
Shenzhen-based BYD sold about 6.5 gigawatt-hours of batteries in August, posting 159% growth from a year earlier, according to a report Thursday from SNE Research, a Seoul-based research firm. Contemporary Amperex Technology Co. Ltd., another Chinese maker, maintained its clear lead as the world’s largest battery maker with 18 gigawatt-hours, up 129%.
LG Energy followed in third position with 5 gigawatt-hours, climbing 16% from a year ago, led by sales of Volkswagen AG’s ID.4, Ford Motor Co.’s Mustang Mach-E and Tesla Inc.’s Model Y, SNE said.
China’s CALB Co., which started trading in Hong Kong Thursday after a $1.3 billion initial public offering, ranked 7th, with 1.9 gigawatt-hours. The company aims to to become a top-three player in the EV battery industry within five years, Chief Executive Officer Jingyu Liu said in an interview.
Total EV battery sales almost doubled to 45.7 gigawatt-hours in August, driven by Chinese demand, SNE said. However, the US Inflation Reduction Act may change the landscape of Chinese-dominated battery supply chains by forcing more battery makers and their suppliers to build plants in North America, the report said.
www.bloomberg.com
Total EV battery sales almost double in August, led by China
China’s CATL maintains top position with 39% market share
CATL, BYD hold almost half the global EV battery market
October 6, 2022 at 10:53 AM GMT+8
China’s BYD Co. cemented its position as the world’s second-largest EV battery maker, outselling South Korean rival LG Energy Solution Ltd. for a second straight month in August.
Shenzhen-based BYD sold about 6.5 gigawatt-hours of batteries in August, posting 159% growth from a year earlier, according to a report Thursday from SNE Research, a Seoul-based research firm. Contemporary Amperex Technology Co. Ltd., another Chinese maker, maintained its clear lead as the world’s largest battery maker with 18 gigawatt-hours, up 129%.
LG Energy followed in third position with 5 gigawatt-hours, climbing 16% from a year ago, led by sales of Volkswagen AG’s ID.4, Ford Motor Co.’s Mustang Mach-E and Tesla Inc.’s Model Y, SNE said.
China’s CALB Co., which started trading in Hong Kong Thursday after a $1.3 billion initial public offering, ranked 7th, with 1.9 gigawatt-hours. The company aims to to become a top-three player in the EV battery industry within five years, Chief Executive Officer Jingyu Liu said in an interview.
Total EV battery sales almost doubled to 45.7 gigawatt-hours in August, driven by Chinese demand, SNE said. However, the US Inflation Reduction Act may change the landscape of Chinese-dominated battery supply chains by forcing more battery makers and their suppliers to build plants in North America, the report said.
BYD Keeps No.2 Rank in Global Electric Vehicle Battery Market
China’s BYD Co. cemented its position as the world’s second-largest EV battery maker, outselling South Korean rival LG Energy Solution Ltd. for a second straight month in August.
www.bloomberg.com
