According to the global installed capacity of electric vehicle power batteries in 2021 announced by the South Korean research institute SNE Research, the leading battery manufacturer in China, CATL, market share exceeds 30%, ranking first in the world for five consecutive years.
Why it matters
The report showed the global installed capacity of electric vehicle batteries is mainly controlled by China and South Korea. Even in the face of the pandemic, CATL leads the market with a market share of 32.6%. In 2021 alone, the global installed capacity of power batteries in CATL will reach 96.7GWh. Compared with 2020, CATL’s growth rate reached 165%. In addition, boosted by Chinese companies in the overall electric vehicle market and CATL, the battery installed capacity of BYD, CALB, Guoxuan, and SVOLT also increased by 167.7%, 130.5%, 161.3% and 430%, respectively. They significantly outshine the average growth rate of this ranking, 107.1%, making China’s market share in the global battery market show a steady upward trend.
Besides China, South Korea relies on LG Energy Solution, SK On, and Samsung SDI, which ranked second, fifth and sixth, to try their best to catch up with China. Japan’s Panasonic is the only country outside China and South Korea on this list, ranking third with a market share of 12.2%.
CATL has lots of clients seeking its goods as a supplier to major EV automakers like Tesla, which is helping the firm develop its installed EV battery capacity. CATL not only supplies Tesla but also NIO and Volkswagen with electric vehicle batteries and will shortly be supplying the battery cells for Fisker’s planned Ocean SUV. However, the excellent performance of CATL was not reflected in the stock price. Since the 7th of February, it has been falling all the way, reaching a minimum of 500 RMB. On the 10th, the closing price was 518.1 RMB, a total drop of nearly 14%.
