Chinese electric vehicle (EV) battery makers dominated the global market in 2022, with six companies featuring among the world’s top 10 players and accounting for a 60.5 per cent share amid a doubling of EV sales on the mainland.
Contemporary Amperex Technology (CATL), based in east China’s Fujian province, retained its position as the world’s largest EV battery producer, according to Seoul-based SNE Research.
CATL installed 165.7 gigawatt hours (GWh) of battery cells from January to November in 2022, 101.8 per cent more than the same period a year earlier, according to the research and consulting services provider. The company’s global market share rose from 32.8 per cent at the end of 2021 to 37.1 per cent.
Shenzhen-based EV and battery maker BYD ranked second. Its installation volume jumped 168.3 per cent to 60.6GWh, taking a 13.6 per cent share of the global market, compared with 8.8 per cent in 2021.
“Chinese EV battery companies are now the global leaders in terms of both technology and sales volume,” said Davis Zhang, a senior executive at Suzhou Hazardtex, a supplier of specialised vehicle batteries. “But they need to expand abroad to ease overcapacity woes.”
Read More at https://www.scmp.com/business/china-business/article/3205675/who-powers-worlds-evs-china-has-6-top-10-ev-battery-makers-60-cent-market-share-led-catl-and-warren