- In January-November 2024, the total global EV battery usage was 785.6 GWh, up 26.4 percent from 621.4 GWh in the same period last year.
- CATL's share in the January-November period was 36.8 percent, unchanged from January-October. BYD was at 17.1 percent, up from 16.8 percent in January-October.
CATL (SHE: 300750) and BYD (HKG: 1211, OTCMKTS: BYDDY) remained the world's top two largest power battery makers in January-November, with the former's share unchanged from January-October and the latter increasing slightly.
Global electric vehicle (EV) battery usage totaled 785.6 GWh in the January-November 2024 period, up 26.4 percent from 621.4 GWh in the same period last year, according to data released today by South Korean market research firm SNE Research.
CATL's EV battery installations in the January-November period amounted to 289.3 GWh, up 28.6 percent from 225.0 GWh in the same period of 2023.
The Chinese power battery giant continued to rank first in the world with a 36.8 percent share and remained the only battery supplier in the world with a market share of more than 30 percent.
This is higher than its 36.2 percent share in the January-November 2023 period and flat from the January-October 2024 period.
In China, the world's largest EV market, major carmakers such as Zeekr (NYSE: ZK), Aito, and Li Auto (NASDAQ: LI) are using CATL's batteries, the SNE Research report noted.
In addition to Chinese OEMs, Tesla (NASDAQ: TSLA), BMW, Mercedes-Benz, Volkswagen and many other major global OEMs are also using CATL's batteries, the report said.
BYD installed 134.4 GWh of power batteries in January-November, up 35.9 percent from 98.9 GWh in the same period of 2023.
The company ranked second in the January-November period with a 17.1 percent share, up from 15.9 percent in the same period a year ago and up from 16.8 percent in the January-October period.
BYD has achieved rapid growth by targeting the battery electric vehicle (BEV)and plug-in hybrid electric vehicle (PHEV) markets and is entering the Asian and European markets to further secure market share, the report said.
LG Energy Solution's installed power battery volume in the January-November period was 91.4 GWh, up 6.9 percent year-on-year.
The South Korean company continued to rank third in the January-November period with a share of 11.6 percent, down from 13.8 percent in the same period last year and from 11.8 percent in the January-October period.
China's CALB was fourth with a 4.6 percent share, South Korea's SK On was fifth with a 4.5 percent share, and Japan's Panasonic was sixth with a 4.0 percent share.
South Korea's Samsung SDI, China's Gotion High-tech, Eve Energy, and Sunwoda ranked seventh, eighth, ninth, and tenth, respectively, with shares of 3.7 percent, 2.7 percent, 2.3 percent, and 2.0 percent in January-November.
China EV battery installations in Nov: CATL share at 42.71%, BYD 25.11%
