From January to November 2023, the worldwide consumption of batteries for electric vehicles reached 624.4 GWh, marking a 41.8 percent increase compared to the 440.5 GWh recorded in the corresponding period of the previous year. SNE Research, a South Korean market research firm, disclosed this data on January 9, 2024.

CATL experienced a notable surge, installing 233.4 GWh of batteries during the same period, reflecting a 52.1 percent rise from the 157.4 GWh recorded in the previous year. This Chinese power battery giant maintained its leading position globally, commanding a 37.4 percent market share, making it the sole supplier with a share exceeding 30 percent.

BYD, securing the second position, saw a 60.4 percent increase in power battery installations from January to November, reaching 98.3 GWh compared to 61.3 GWh in the same period the previous year. Its market share rose to 15.7 percent, up from 13.9 percent in the previous year but slightly lower than the 15.8 percent recorded from January to October.

LG Energy Solution, a South Korean company, claimed the third spot globally with 84.8 GWh in power battery installations during the January-November period, a 41.8 percent year-on-year increase. The company maintained a 13.6 percent market share, consistent with the previous year but slightly down from the 13.8 percent recorded from January to October.

Panasonic of Japan secured the fourth position with a 6.5 percent market share, while SK On from South Korea, CALB from China, Samsung SDI, Gotion High-tech, Eve Energy, and Farasis Energy claimed the fifth to tenth positions, each with their respective market shares.

Source: CNEVPOST