According to the latest statistics from South Korea's SNE Research, from January to July 2024, the installed capacity of power batteries for electric vehicles (including pure electric, plug-in hybrid, and oil-electric hybrid) in the global market will be approximately 434.4GWh, a year-on-year increase of 22.4%.
Among the top 10 companies in terms of installed capacity of power batteries in the global market from January to July, six Chinese battery companies continued to be on the list, namely CATL, BYD (Fudi Battery), Sinovation, EVE Energy, Guoxuan High-tech and Xinwoda; there were also three Korean companies and one Japanese company on the list.
Unit: GWh Data source: SNE Research
By country , among the top 10 companies in terms of installed capacity of power batteries in the global market from January to July, the market shares of battery companies from China, South Korea and Japan were 65.3%, 21.4% and 4.3%, respectively, up 0.4 percentage points, down 0.8 percentage points and down 0.1 percentage points from January to June.
Among them, the top three companies with the fastest year-on-year growth were Xinwoda, EVE Energy, and CATL, with year-on-year growth of 64.1%, 44.1%, and 29.9%, respectively. At the same time, three Chinese companies, China New Energy, BYD, and Gotion High-tech, also showed strong growth momentum.
Looking at the companies , Chinese companies performed well. From January to July, CATL continued to lead the pack, with an installed capacity of 163.3GWh, a year-on-year increase of 29.9% and a market share of 37.6%. It is the first company in the world to have an installed capacity of over 150GWh this year.
BYD ranked second with an installed capacity of 69.9GWh, a year-on-year increase of 23.4%. Its market share increased from 15.8% in January-June to 16.1%, further widening the gap with LG Energy Solution.
China New Energy ranked fifth, with an installed capacity of 20.4GWh, a year-on-year increase of 26.9%, and a market share of 4.7%. Compared with January-June, it is gradually narrowing the gap with SK On, which ranks fourth, and the gap is only 0.1GWh. Its growth rate is nearly 6 times that of SK On. If it maintains a high growth rate, it is expected that the installed capacity in January-August will surpass SK On.
Yiwei Lithium Energy ranked eighth, up one place from January to June. Its installed capacity was 11.2GWh, a year-on-year increase of 44.1%, and its market share rose to 2.6%, an increase of 0.5 percentage points from January to June. Since the beginning of this year, Yiwei Lithium Energy's installed capacity has increased significantly. Its semi-annual report data showed that in the first half of this year, Yiwei Lithium Energy achieved operating income of 21.659 billion yuan, net profit attributable to shareholders of 2.137 billion yuan, and non-net profit of 1.499 billion yuan, a year-on-year increase of 19.32%. With the launch of its Omnicell all-round battery (with 6C supercharging characteristics, charging for 5 minutes and a range of 300 kilometers), it is expected that its power battery installed capacity will continue to grow steadily.
Guoxuan High-tech ranked ninth with an installed capacity of 9.6GWh, a year-on-year increase of 17.6% and a market share of 2.2%. Data shows that Guoxuan High-tech's Volkswagen UC ternary and iron-lithium standard cells, L600 and other 8 third-generation batteries are being delivered; it has released 5C ultra-fast charging G-grade batteries, which can charge 80% in 9.8 minutes; high-nickel ternary cylindrical Xingchen batteries achieve 4C fast charging, which can charge from 10% to 70% in 9 minutes, as well as new products such as Jinshi batteries, which provide support for further increasing its installed capacity.
Xinwangda ranked tenth with an installed capacity of 9.1GWh, a year-on-year increase of 64.1% and a market share of 2.1%. In the field of power batteries, Xinwangda has achieved the production of the 1 millionth HEV hybrid vehicle battery. Its new generation of ultra-fast charging products, Flash Charge Battery 3.0, supports lithium iron phosphate and ternary lithium systems, and the peak charging rate can reach 6C. At the current high growth rate, Xinwangda has firmly sat in the top 10 of installed capacity.
Among Japanese and Korean battery companies, Samsung SDI and Panasonic have similar installed capacities of batteries, both around 18.8GWh, with a difference of less than 0.1GWh, resulting in fierce competition for rankings.
In summary, among the top 10 companies in terms of installed capacity of power batteries in the global market, the installed capacity of Chinese battery companies has basically remained at about two-thirds; the installed capacity of CATL and BYD has stabilized at more than 50% of the global total installed capacity of power batteries; China Innovation Aviation, EVE Energy, Guoxuan High-tech, and Sunwoda have shown strong market competitiveness both in the launch/mass production of new power batteries and in maintaining rapid growth in installed capacity.
Next, with the completion and production of overseas battery bases of leading Chinese power battery companies such as CATL, Envision Power, Farasis Energy, EVE Energy, Guoxuan High-tech, Sunwoda, Sinotruk, and Honeycomb Energy, the localized supply capabilities of Chinese companies in overseas markets will be greatly improved. It is expected that the global installed capacity of Chinese battery companies will continue to increase steadily.