Chinese battery manufacturer CATL is expanding its global presence rapidly. This is according to a new report by Korean firm SNE Research. CATL’s worldwide battery usage outside its home market was about 64 gigawatt-hours from January to September 2023. This corresponds to a 104.9% improvement from the same period of 2022. CATL’s global market share has also risen by 7 percentage points within the period.

CATL

The impressive CATL results have put it virtually at par with South Korean manufacturer, LG Energy Solutions with its 28.1% market share. LG Energy Solutions reported a 49.2% growth within Q1-Q3, 2023 but its global market share slightly dipped. SK On and Samsung SDI increased their worldwide battery usage to 24.4GWh and 21.6GWh respectively. SK On and Samsung SDI are respectively the fourth and fifth largest battery manufacturers globally.

South Korea, despite the rising profile of CATL, still accounts for 48.3% global market share, down by 5.8 percentage points from last year. The SNE Research report also showed that global battery installation in electric vehicles was 228GWh from January to September 2023. This is an impressive 54.9% increase from last year. EV sales impliedly also recorded a remarkable increase from 2022. Chinese EV maker BYD was the world’s biggest EV manufacturer and recorded a 4.1GWh battery usage. Chinese company, Farasis Energy also recorded impressive growth numbers with 3GWh battery usage.

The outlook remains positive for CATL as it continues to supply its battery products to a wide array of EV makers. CATL’s customers include Tesla, Mercedes, BMW, and Volvo, among others. The company is also expanding its reach with Hyundai and Kia its most recent customers. Its influence has rapidly enveloped the local market, while also making inroads globally.

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