Korean Media: China Holds Absolute Advantage in Global EV Battery Market!

On July 3, South Korean media outlet *Herald Economy* published an article stating that from January to April this year, global electric vehicle battery usage increased by over 10% compared to the same period last year.

According to data from market research firm SNE Research, the total global battery usage for pure electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles reached 352.7 GWh from the beginning of this year through April—up 13.8% compared to the same period last year.

By company, CATL (Contemporary Amperex Technology Co. Limited) in China saw a year-on-year increase of 19.8%, reaching 141.4 GWh, firmly securing the top spot globally. Its market share stood at 40.1%, up two percentage points year-on-year.

BYD in China recorded 50 GWh, a slight decrease of 2.4% year-on-year, yet still maintained second place with a 14.2% market share.

LG Energy Solution from South Korea experienced an 8.3% year-on-year growth, reaching 32 GWh, ranking third. However, due to slower growth than the overall market average, its market share slightly declined from 9.5% last year to 9.1% this year.

China’s CALB (Chengdu-based Aeon Battery Technologies) ranked fourth with 18.1 GWh, while Guoxuan High-Tech (Gotion High-Tech) ranked fifth with 15.6 GWh; both companies achieved growth rates around 30%.

SK On ranked sixth with 12.3 GWh, down 7.9% year-on-year, and its market share dropped from 4.3% to 3.5%. SNE Research attributed this decline to slowing EV sales among major customers in North America and Europe, as well as production adjustments for certain vehicle models.

Among the top ten battery users, seven Chinese companies collectively held a market share of 72.2%, up 2.1 percentage points compared to the same period last year.

SNE Research explained: "In the Chinese market, Chinese enterprises led by CATL are expanding their market share through strong domestic foundations and rapid product transition speed, while battery usage is also increasing in Europe and emerging markets. Meanwhile, the North American market has shown greater volatility due to policy changes and adjustments in EV production and sales speeds by major automakers."

Original article: toutiao.com/article/1869695098620043/

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