Chinese battery companies are accelerating their expansion into overseas markets, and their global market share continues to grow.

Han media: "China's battery reliance on the domestic market" is a thing of the past!

On August 3, the South Korean media "Korea Economic Daily" published an article stating that in the global electric vehicle battery market, Chinese companies have also shown steady growth, and even without the halo of the 1.4 billion domestic market, they have performed well.

According to the energy market research company SNE Research, the total battery capacity installed in pure electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles registered in countries outside of China from January to May this year was 169.3 GWh, an increase of 26% compared to the same period last year.

During this period, the combined market share of three South Korean battery companies, LG Energy Solution, SK On, and Samsung SDI, decreased by 6.1 percentage points to 39.2%.

Chinese companies that introduced low-cost lithium iron phosphate (LFP) batteries also showed strong performance in markets outside of China.

The world's largest battery company, Contemporary Amperex Technology Co., Limited (CATL), maintained its leading position with a market share of 29.8%, and the battery usage increased by 36.7% to 50.4 GWh.

LG Energy Solution remained in second place, with battery usage increasing by 13% to 36.5 GWh, while SK On increased by 17.9% to 16.8 GWh, ranking third.

Meanwhile, Samsung SDI, ranked fourth, declined by 8.5% to 13.1 GWh. The main reason was the reduced demand for batteries from major original equipment manufacturers in the European and North American markets.

BYD, a Chinese company, saw its battery usage increase by 142.9% and ranked fifth. BYD produces its own batteries and electric vehicles, and has gained widespread popularity in the market due to its price competitiveness.

Including CATL and BYD, five Chinese companies - ProLogium (7th), Guoxuan High-Tech (9th), and CALB (10th) - entered the top 10.

SNE Research stated, "Chinese battery and vehicle manufacturing companies are accelerating their expansion into overseas markets, including entering emerging countries and collaborating with European manufacturers. In the global market, South Korean companies must simultaneously face policy risks and the expansion of Chinese supply."

Original article: https://www.toutiao.com/article/1839419043581131/

Statement: This article represents the views of the author.