SNE: Chinese manufacturers EV battery market share is rising rapidly

Market research company SNE Research said on October 6 that from January to August this year, the global electric vehicle battery consumption was 287.6GWh, an increase of 78.7% over a year ago.

Among them, the use of Ningde-era electric vehicle batteries increased by 114.7% year-on-year to 102.2GWh, and the company's market share increased from 29.6% to 35.5%. In contrast, LG Energy Solutions' market share dropped from 22.3% to 13.7%, and the combined market share of SK On, Samsung SDI, and LG Energy Solutions dropped from 33.5% to 25%. The use of BYD electric vehicle batteries increased by more than 192% year-on-year.

Chinese companies are rapidly expanding their overseas operations. For example, CATL, whose main product is square batteries, recently announced that its cylindrical batteries will be supplied to BMW starting in 2025. Currently, cylindrical cells are the main products of LG Energy Solutions, Samsung SDI, and Panasonic.

CATL is currently building a factory with an annual output of 100GWh in Hungary, with an investment of 7.3 billion euros. It is CATL's second factory in Europe, after the German factory scheduled to open this year, and the company is also considering building a third factory in Europe to double its battery output.

China is dominating EV battery minerals, which is a huge advantage for Chinese EV battery makers. In mineral processing and smelting, China has a market share of 50% to 70% in different fields, and the raw materials used by South Korean EV battery makers are in most cases imported from China.

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