If there are electric cars, the credit also goes to them batteries who manage to bring it to life. Just as there are companies that build electric vehicles, there are also companies that make batteries to power electric vehicles. Apparently the domain currently belongs to a particular giant who goes by the name of CATL.
The market share that the company holds is almost 38% counting only the first ones three months of 2024 underway. Going into the data more specifically, from January to last March the overall demand for batteries reached a value equal to 158.8 GWh. In second place there is BYDwhile on the third one here LG Energy Solutions.
CATL dominates with BYD and LG in tow, here is the rest of the ranking
Fourth place is currently occupied by Panasonic which in fact recorded a drop equal to 12.6% compared to 2023 in the same period. Next up here Samsung SDI which currently occupies fifth place with growth of 36.3%
achieved during the first three months of this 2024. The brand was driven by the positive sales of models such as BMW i4/i5/i7 And Audi PHEV in Europe. The sales resulting from are also excellent Rivian with the R1T/R1S in North America.
Here is the current ranking for the first three months of 2024:
- CATL: 60.1 GWh – 37.9% market share
- BYD: 22.7 GWh – 14.3% market share
- LG Energy Solution: 21.7 GWh – 13.6% market share
- Panasonic: 9.3 GWh – 5.8% market share
- Samsung SDI: 8.4 GWh – 5.3% market share
- SK On: 7.3 GWh – 4.6% market share
- CALB: 6.3 GWh – 4% market share
- EVE: 3.6% – 2.3% market share
- Guoxuan: 3.4 GWh – 2.1% market share
- SVOLT: 2.7 GWh – 1.7% market share “Others”: 13.4 GWh – 8.4% market share
The ranking therefore confirms the dominance of Asian companies in the sector, while Europe seeks to reduce dependence on Chinese suppliers, but with significant challenges to face.
