ANN/CHINA DAILY – A recent report from South Korean market consultancy SNE Research highlights China’s ongoing dominance in the global power battery market during the initial seven months of this year. Chinese companies were responsible for more than three-fifths of battery installations worldwide.
The report’s latest findings reveal that among the top 10 global battery companies in terms of installations from January to July, six were Chinese, collectively holding a substantial 62.9-per-cent market share. South Korea followed closely with three firms represented, while Japan had one in the top ranks.
Specifically, Chinese battery giant Contemporary Amperex Technology Co Ltd maintained its leading position with total installed capacity of 132.9 gigawatt hours, up 54.3 per cent year-on-year. Its global market share stood at an impressive 36.6 per cent.
Chinese EV maker BYD ranked second worldwide at 58.1 GWh, up a whopping 94.1 per cent year-on-year. South Korea’s LG Energy Solution followed with 51.4 GWh. China’s CALB, EVE, Gotion High-Tech and Sunwoda were also among the top 10.
SNE Research said BYD has shown a noteworthy performance in the first seven months and has achieved broad popularity based on its price competitiveness in aspects such as in-house battery supply chains and vehicle manufacturing.
Senior researcher at the Chinese Academy of International Trade and Economic Cooperation in Beijing Zhou Mi said, “The notable performance of Chinese battery companies can be attributed to rising demand from major overseas consumer countries for renewable energy and new energy vehicles. Also, local companies have made great technological advancements in lithium battery manufacturing.”
Similar views were shared byco-director of the Digital Economy and Financial Innovation Research Center at Zhejiang University’s International Business School Pan Helin. Chinese battery firms have exhibited increasing strength in overseas markets, he said.
Currently, over 10 Chinese power battery companies have announced plans for overseas investments.
“For local battery firms and related companies in the industry chain, the global battery market still has the potential to grow manifold in terms of scale,” Pan said.
Over the past few years, CATL, for instance, has tried to penetrate overseas markets, and has been enjoying rapid growth in Europe and North America.
At the IAA Munich Car Show on Monday, CATL’s principal engineer Gao Pengfei said the company plans to manufacture its ultra high-speed charging Shenxing battery not only in China, but also at its facilities in Germany and Hungary.
Shenxing, made with lithium iron phosphate (LFP), is able to deliver a driving range of 400 kilometres with a 10-minute charging time. It was unveiled in August with the company saying it is the world’s first super-fast charging LFP battery.
