Assisted By Tesla, This Chinese Battery Manufacturer Still Controls Global Electric Vehicle Battery Suppliers

Smart Manufacturing. (Doc. CATL)

JAKARTA - A well-known battery manufacturer, Contemporary Amperex Technology Limited (CATL), is still the king in terms of global electric vehicle battery market share.

Quoted from the Counterpoint page, Friday, November 10, based on existing data, the global EV battery capacity sold in the first six months of 2023 grew 54 percent compared to the same period last year, reaching more than 300GWh.

In more detail, CATL's market share is 34 percent, followed by BYD of 16 percent, LG of 14 percent, Panasonic of 8 percent, SK Innovation and Samsung SDI of 5 percent each.

The surge in sales of Tesla Model 3 and Model Y plays an important role in driving CATL and LG growth. SK Innovation is driven by the use of Hyundai, Kia, and Ford EV batteries, while Rivian and BMW rely mainly on Samsung.

The surge in market share is also accompanied by sales of global electric vehicles that experienced significant growth, even up to 43 percent. Based on existing data, Tesla and BYD are the two major manufacturers that control the BEV market.

Vice President of Counterpoint Research, Peter Richardson, estimates that the total demand for electric vehicles will reach 4TWh by 2030.

However, later on, the competition in terms of battery suppliers will be fiercer because there are many new players, such as ACC, Verkor, Northvolt, and E4V. This was revealed by Senior Analyst Soumen Mandal.

"In the next few years, automakers such as Tesla, VW, BMW, Mercedes, and Stellantis are also working on internal cell and packaging manufacturing, which will make the battery supply chain more competitive," he said.