Global Electric Vehicle Power Battery Market Update CATL Leads, Korean Players See Changes

TapTechNews August 7th news, the South Korean market research institute SNEResearch released data this morning showing that in the first half of this year, the global electric vehicle power battery usage reached 364.6 gigawatt-hours (364.6 million kilowatt-hours), an increase of 22.3% year-on-year.

TapTechNews summarizes the main data as follows:

From January to June this year, the global market share of Korean power battery installed capacity decreased by 3 percentage points year-on-year to 22.1%.

CATL battery installed capacity increased by 29.5% to 137.7 gigawatt-hours, with a 37.8% market share, firmly topping the list.

BYD battery installed capacity increased by 22% to 57.5 gigawatt-hours, ranking second with a 15.8% market share.

LG Energy Solution, SKOn, and Samsung SDI, the three major Korean battery manufacturers, saw their global electric vehicle battery usage increase year-on-year.

LG Energy Solution increased by 5.7% (46.9 GWh) and remained in the third place; SKOn increased by 5.4% (17.3 GWh) and ranked fourth.

The batteries of Samsung SDI are used in models such as BMW i4, i5, i7, and Audi Q8 e-tron, while the power batteries of LG Energy Solution are used in models such as Tesla Model 3/Y, Volkswagen ID.4, Ford Mustang Mach-E, and Cadillac Lyriq.

The batteries of CATL are adopted by major domestic and foreign automakers, including Li Auto, Zeekr, AITO, Tesla Model 3/Y, BMW iX, Mercedes-Benz EQ series, and Volkswagen ID. series of multiple models. Although the revenue in the second quarter decreased by 13.2% year-on-year, the net profit of CATL increased by 13.4% year-on-year to 123.6 billion yuan, reaching the third-highest in history.

The agency expects that in the second half of the year, stable metal prices and the launch of new models of major customers will partially alleviate the slowdown in power battery demand and restore growth.