As of the halfway point of 2018, CATL still held the lion’s share of the EV battery market. According to Counterpoint Research, the global EV battery capacity sold in the first six months of 2023 increased by 54% year over year, reaching over 300 GWh.
During the same period, global EV sales also recorded a 43% year-on-year gain. China, the United States, and Europe were predictably the top three regions for EV battery installations.
BYD (16%), LG (14%), Panasonic (8%), SK Innovation (5%), and Samsung SDI (5%), in that order, took the next five percent of the market from CATL. Chinese EV battery manufacturers CATL, BYD, CALB, Gotion, Sunwoda, and Farasis control almost two-thirds of the market, while LG, Samsung, and SK in South Korea have around 25%.
Tesla, BYD, and VW are the top three automakers that have purchased the greatest EV battery capacity so far this year. During that time span, these three companies accounted for roughly 45% of the total battery capacity sold (Tesla 21%, BYD 16%, and VW 8%).
CATL and LG’s expansion can be partially attributed to the “surging sales” of Tesla’s Model 3 and Model Y. While Rivian and BMW predominantly rely on Samsung batteries, Hyundai, Kia, and Ford EVs have helped SK Innovation expand.
Peter Richardson, vice president at Counterpoint Research, predicts that by 2030, the global demand for batteries to power electric vehicles will amount to 4TWh. Senior analyst Soumen Mandal predicts that a number of new battery providers, including ACC, Verkor, Northvolt, and E4V, will “secure a substantial presence within the battery supply chain” in the upcoming years. Mandal claims that the development of in-house cell and pack manufacturing by Tesla, Volkswagen, BMW, Mercedes, and Stellantis “will make the battery supply chain even more competitive.”
CATL, or Contemporary Amperex Technology Co. Limited, is a Chinese company that specializes in the manufacturing of lithium-ion batteries for electric vehicles (EVs) and energy storage systems. As of my last knowledge update in January 2022, CATL is one of the leading global suppliers of battery technology and is a key player in the electric vehicle battery market.
Key points about CATL include:
- Battery Production: CATL is known for producing a wide range of lithium-ion batteries, including those used in electric cars, buses, trucks, and energy storage systems. Numerous automakers around the world use the company’s batteries.
- Innovation and Research: CATL is actively involved in research and development to advance battery technology. The company invests in innovations to improve the energy density, safety, and overall performance of lithium-ion batteries.
- Global Presence: CATL has a significant global presence, with manufacturing facilities and offices in various countries. The company collaborates with numerous automakers to supply batteries for electric vehicles.
- Partnerships: CATL has established partnerships with several major automotive manufacturers to supply batteries for their electric vehicles. These partnerships play a crucial role in the growth and expansion of the electric vehicle market.