In November, CATL remained firmly on the top spot in the global power battery market, with its market share further increasing to 36.7%, and the gap with LG and Panasonic has widened again.
After October, BYD again surpassed Panasonic to rank third in the global power battery list, rising star EVE Lithium rose to ninth, and SUNWODA made a list for the first time, ranking tenth.
According to data from South Korean market research organization SNE Research, the global installed capacity of power batteries was 33GWh, an increase of 26% from the previous month. From January to October, the global installed capacity of power batteries was 250.8GWh, a rise of 16% from the last month.
In November, CATL was firmly on the top spot, LG was still the runner-up, and BYD surpassed Panasonic to win third place. It is worth noting that CALB ranked seventh again, GOTION dropped to eighth on the list; EVE Lithium Energy rose one place to ninth, SUNWODA made a list for the first time, and SVOLT fell again.
From a month-on-month perspective, only SK On installed capacity fell by 5% from the previous month in November. The most significant growth rate from the last month was that of EVE Lithium Energy, which reached 66.7%, followed by CATL, LG, Samsung SDI, CALB, Panasonic, and SUNWODA month-on-month growth rate exceeded 30%.
Among the TOP10 global power batteries, Chinese companies have already accounted for six seats. We are increasingly aware that domestic companies' share in the international market is slowly expanding.
CATL installed 12.1GWh in November, up 36% month-on-month, accounting for 36.7%, and its market share further increased. Since the beginning of this year, CATL has signed some long-term orders, including a 4-year order for Tesla, a 10-year order for Great Wall, and a 7-year demand for Mercedes-Benz vehicles. In addition, it also supplies Volkswagen, Hyundai, Rolls-Royce, Weilai, Xiaopeng, Ideal, Weimar, BMW, Jaguar Land Rover, Honda, and many other car companies.
Currently, CATL has deployed ten production bases around the world. According to the plan, the production capacity will exceed 670GWh in 2025.
BYD's installed capacity was 3.6GWh, an increase of 12.5% month-on-month, and its market share reached 10.9%. BYD takes the lead in the domestic market with the sales of some explosive models such as the DM-i, and the installed capacity of power batteries has naturally increased.
The installed capacity of China Chuangxin Airlines (formerly known as AVIC Lithium) was 0.8GWh, an increase of 33.3% month-on-month, and its market share reached 2.4%, ranking seventh; Guoxuan High-tech's installed capacity was 0.7GWh, the same as the installed capacity in October. EVE's installed capacity of lithium energy was 0.5GWh, a 66.7% increase from the previous month, and it rose one place to ninth. It has been ranked among the TOP10 global power battery rankings for two consecutive months.
SUNWODA's installed capacity was 0.4GWh, up 33.3% month-on-month, and its market share reached 10.3%, making it the first time it was on the list. In 2014, SUNWODA established an electric vehicle battery company, holding approximately 82.9% of SUNWODA's automotive batteries, and officially undertook the electric vehicle battery business. In just seven years, he has achieved the 10th position in the world, and his strength can be imagined.
In 2021, SUNWODA successfully obtained designation letters from Dongfeng Liuqi Lingzhi CM5EV, Dongfeng E70, GAC A9E, Geely PMA platform, Geely GHS2.0 platform, SAIC-GM-Wuling Hongguang MINI, and other automakers' model projects; cooperation has been established. The car companies involved include Renault, Nissan, Ejet, Geely, Dongfeng, GAC, SAIC-GM-Wuling, Xiaopeng, etc.
To achieve a regional layout strategy, SUNWODA continuously expands its production capacity. The first power battery factory is in Huizhou, Guangdong, and the second is in Nanjing, Jiangsu. The first phase has already been put into operation, and the second phase will soon be put into operation. In addition, within this year, SUNWODA has invested 40 billion yuan in two power battery projects. One is to build a production base in Nanchang, planning to build a power battery and energy storage battery project with an annual output of 50GWh; the other is in Zaozhuang, intending to do a power battery project with a yearly production of 30GWh.
LG's installed capacity was 5.5GWh, an increase of 34.1% from the previous month, and its market share reached 16.7%. The installed capacity of SK On was 1.9GWh, down 5% from the prior month, and its market share was 5.8%, ranking fifth. The installed capacity of Samsung SDI was 1.2GWh, up 33.3% month-on-month, and its market share was 3.6%.
The increase in LG's installed capacity was mainly driven by solid sales of China-made Tesla Model Y, Volkswagen ID.4, and Ford Mustang Mach-E. Thanks to the increase in sales of Fiat 500, Jeep Wrangler PHEV, and Audi E-Tron EV, the installed capacity of Samsung SDI has increased.
The market share of Japanese companies represented by Panasonic is declining, and their market share is far below the market average. BYD has overtaken Panasonic for two consecutive months, and its global ranking has dropped to fourth.
From January to November, the global installed capacity of power batteries reached 250.8GWh, increasing 16% from the previous month. CATL, LG, and BYD are still in a tripartite situation. The gap between BYD and Panasonic has further narrowed. It is expected that soon, BYD will surpass Panasonic to rank third.
EVE Lithium surpasses SVOLT and ranks 10th on the list for the first time. Starting in October, Envision AESC has fallen to the TOP10 list in the world. We expect that EVE Lithium Energy or SVOLT will soon surpass Envision AESC and become the ninth place in the world.
In November, written at the end, Chinese companies continued to lead the global power battery market forward. It is worth noting that starting from October, the global power battery market has broken the "triple power" pattern of CATL, LG, and Panasonic, and a new "tripod power" pattern led by CATL, LG, and BYD has taken shape.
Since August, Japanese company PEVE has fallen into the TOP10 list of global power batteries, and the presence of Japanese companies is getting lower and lower. The rising stars of Chinese companies SVOLT, EVE Lithium Energy, and SUNWODA appeared on the list. In the future, as Chinese companies accelerate their expansion into overseas markets, their market share will further increase. The global power battery market competition will also change from the match between China, Japan, and South Korea to the competition between China and South Korea.