In the first three quarters of this year, Chinese companies claimed first and second place in the global electric vehicle battery market. The three major Korean battery makers ranked third, fifth, and seventh, respectively.
According to market research firm SNE Research on Nov. 7, China’s CATL held the top spot in the global electric vehicle battery market in the first three quarters of this year. With a share of 36.8 percent, it was the only global battery supplier with a share of more than 30 percent. At second place was China’s BYD with a 15.8 percent share.
LG Energy Solution snagged third place with a 14.3 percent share. SK on and Samsung SDI stood fifth and seventh with 5.1 percent and 4.5 percent share, respectively.
The only Japanese company in the top 10 club is Panasonic in fourth place with a 7.0 percent share.
“CATL grew nearly two times year over year in every continent except China,” SNE Research said. “The Chinese battery maker continues to grow fast as its OEM batteries go into many of the world’s leading electric vehicles.”