CATL and LG Energy account for nearly 54% of global xEV battery market: SNE Research
The global battery market for xEVs (BEVs, PHEVs and HEVs) has expanded at an unprecedented rate this year, breaking previous records and setting up new levels as automakers across the world have shifted their focus to electric vehicles. According to stats released by SNE Research, the total battery capacity installed in BEVs, PHEVs and HEVs registered during the month of May this year amounted to 19.7 GWh, nearly 233 per cent more than the corresponding month of the previous year.
Year-to-date (YTD) battery capacity installed in BEVs, PHEVs and HEVs exceeded 81 GWh, and more than half of that capacity came from Chinese battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) and South Korea-based LG Energy Solution.
LG Energy Solution enjoyed an especially robust month with 5.7 GWh of battery capacity installed in electrified vehicles. The figure represents a year-over-year growth of 270 per cent, and a market share of almost 29 per cent. The South Korean battery maker outshined its main rival CATL, which stood second with 4.8 GWh of battery capacity installed in the electrified vehicles, up 259 per cent year-over-year. The Chinese battery giant grabbed 24.5 per cent of the market.
Panasonic lagged significantly behind LG Energy Solution and CATL with 3.3 GWh of battery capacity installed in xEVs during the month of May. It enjoyed a growth of 207 per cent, and grabbed 16.9 per cent of the market.
Chinese tech giant BYD accounted installed 1.4 GWh of battery capacity in xEVs in the month under review, but it enjoyed the highest rate of growth in the top ten. Its battery capacity installation grew 332 per cent year-over-year.
Samsung SDI, SK Innovation, CALB, Envision AESC and Guoxuan’s battery capacity installation increased 216 per cent, 167 per cent, 237 per cent, 75 per cent and 234 per cent to settle at 0.9 GWh, 1.0 GWh, 0.7 GWh, 0.3 GWh, and 0.3 GWh respectively. Others accounted for 1.0 GWh, up 166 per cent year-over-year.
In the January to May period of 2021, CATL grabbed the top position with 22.1 GWh of battery capacity installed in xEVs, up 300 per cent with 27.1 per cent of the market share. LG Energy Solution’s battery capacity shipment grew 184 per cent year-over-year to 21.7 GWh with 26.6 per cent of the share. The combined market share of CATL or LG Energy Solution stood at 53.7 per cent, which means that every second electrified vehicle on the planet is equipped with a battery pack manufactured either by CATL or by LG Energy Solution.
- Rivers Casino Portsmouth ceremonial groundbreaking scheduled for Dec. 7, 2022
- Alaska’s first electric school bus operating efficiently in minus 40-degree temperatures
- E-ONE bags first order for electric fire truck from Mesa Fire & Medical Department
- Genesis releases teaser image of Electrified GV70 ahead of Guangzhou Auto Show
- Daimler's Mitsubishi Fuso Delivered 300 eCanter Trucks