CATL (SHE: 300750) and BYD (HKG: 1211, OTCMKTS: BYDDY) remained the world's 2 largest makers of electric vehicle (EV) batteries in January, the latest figures show.
Total global electric vehicle (EV) battery usage in January was 64.3 GWh, up 25.7 percent from 51.2 GWh in the same month last year, according to data released yesterday by South Korean market researcher SNE Research.
CATL's EV battery installations in January were 25.0 GWh, up 25 percent from 20.0 GWh in January 2024.
The Chinese power battery giant continued to rank first in the world in January with a 38.9 percent share, and remained the only battery supplier in the world with a market share of more than 30 percent.
That's down from its 39.1 percent share in January 2024, but up from its 37.9 percent share in the January-December 2024 period, according to SNE Research.
Not only are major local EV makers such as Zeekr (NYSE: ZK), Aito, Li Auto (NASDAQ: LI), and Xiaomi (HKG: 1810, OTCMKTS: XIACY) adopting CATL's batteries, but so are many of the world's major OEMs such as Tesla (NASDAQ: TSLA), BMW, Mercedes-Benz, and Volkswagen, the SNE Research report noted.
BYD installed 10.9 GWh of power batteries in January, up 42.6 percent from 7.6 GWh in 2024.
The company ranked second in January with a 16.9 percent share, up from 14.9 percent in January 2024 but down from 17.2 percent in the January-December 2024 period.
BYD, which produces its own batteries and EVs, has gained great popularity by introducing various models to the market with excellent price competitiveness, SNE Research noted.
LG Energy Solution saw power battery shipments of 6.0 GWh in January, up 10.1 percent year-on-year.
The South Korean company continued to rank third in January with a 9.3 percent share, down from 10.7 percent a year ago and 10.8 percent in the January-December 2024 period.
South Korea's SK On was fourth with a 4.5 percent share, Japan's Panasonic was fifth with 3.8 percent, and China's CALB was sixth with 3.8 percent.
China's Gotion High-tech, South Korea's Samsung SDI, China's Svolt Energy, and Eve Energy ranked seventh, eighth, ninth, and tenth, respectively, with shares of 3.4 percent, 3.1 percent, 3.0 percent, and 2.1 percent in January.
China EV battery installations in Jan: CATL share at 47.08%, BYD 22.90%
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