CATL Bolsters Market Dominance in China's EV Battery Sector

CATL (Contemporary Amperex Technology), the leading global electric vehicle battery manufacturer, solidified its dominance in China, capturing nearly 47% market share from January to July, a significant rebound after two years of contraction.

In the same period, CATL's market share surged to 46.5%, up from 43.1% the previous year, with its EV battery usage hitting 112.7 GWh, as per data from the China Automotive Power Battery Industry Innovation Alliance on Aug. 9.

BYD, a major Chinese EV and battery player, ranked second with 59.88 GWh in battery loading, experiencing a slight dip to 24.7% market share due to slower growth in EV sales, particularly vehicles with high-capacity batteries.

CATL's market share in China had fallen to 43.5% in 2021 from 51.9% in 2020 but rebounded to 48.8% in Q1 this year, said Cui Dongshu of the China Passenger Car Association.

BYD sold 1.95 million EVs in the first seven months, a 29% increase year-over-year, contrasting with an 88% surge in the same period last year.

Despite escalating market competition, CATL and BYD continued to outshine their rivals in China, with the country's EV battery installed capacity climbing by 33% to 244.9 GWh.

In China, new energy vehicle retail sales soared by 37% to 878,000 units last month, establishing a record-high 51% penetration rate, surpassing half of all auto sales for the first time ever, according to the CPCA's Aug. 8 report.