Global electric vehicle (EV) battery installation registered worldwide was approximately 599GWh in January to September 2024, a 23.4% year-on-year growth, according to SNE Research.
It said CATL retained number one position in the global ranking with a 26.5% (219.6GWh) year-on-year growth. Major Chinese OEMs such as Zeekr, Aito, and Li Auto – in China, the world’s largest EV market – use CATL’s battery.
Major OEMs also chose CATL’s battery for their vehicles – including the Tesla Model 3/Y, BMW iX, Mercedes EQ series and VW ID series.
BYD ranked second on the list with a 28.0% (98.5GWh) year-on-year growth. BYD has been aggressively targeting the BEV and PHEV markets by launching a new hybrid vehicle which it claims can drive 2,100km per charge.
SNE noted that CATL and BYD alone hold more than half the entire global market share. It said the high growth of Chinese battery companies started since NCM was replaced with LFP. Price competitiveness and thermal safety are higher than NCM, it said. “Other regions have been preparing for mass production of LFP at a rapid pace as many global OEMs chose to adopt LFP,” it added.
Panasonic is the only Japanese company in SNE’s top 10 ranking. It recorded 25.7GWh from January to September, ranking sixth – but with a 20.2% year-on-year decline. SNE said the major reason was a slowdown in sales of the Tesla Model 3, due to its transformation to the facelifted version earlier this year.
As sales of Model 3 have recently risen and Panasonic is reported to have launched advanced 2170 and 4680 cells supplied to Tesla, it is expected to rapidly regain its market share, mainly focusing on Tesla, SNE said.
In the lead market, Battery Council International reported 160,085,512 shipments of original equipment and replacement automotive batteries in North America in the 12 months ending September 2024. This is up from 149,837,331 in the 12 months ending September 2023. In September 2024, there were 13,643,758 shipments, a fall of 3.02% year-on-year. The data was reported on 29 October and is based on reports from BCI members.
