Business and Economy

CATL stands firm, leads the global EV battery market share

6 Mar 20235 min read
Ken Tng
Ken Tng

Content Writer

Contemporary Amperex Technology Co. Limited (CATL) is at the helm of EV battery market share at 37.1% as a lithium-ion battery supplier.

Summary

  • The Chinese battery maker Contemporary Amperex Technology Co. Limited (CATL) has secured a commanding 37.1 % share of the global electric-vehicle (EV) lithium-ion battery market, up from 32.3 % last year.
  • CATL’s dominance is underpinned by huge production volume, a broad Asian EV-battery supply chain and strategic moves such as its “Qilin” battery capable of 1,000 km per charge and its battery-swap initiative across ten Chinese cities.
  • The company’s stronghold highlights Asia’s pivotal role in the EV-battery market, and shows that any disruption in raw-material supply or innovation in battery design will significantly impact EV cost, sustainability and global competitiveness.
China-based Contemporary Amperex Technology Co. Limited (CATL) retains the top spot in the electric vehicle (EV) battery arena. Said company currently has 37.1% global EV battery market share. CATL is now the five-year leading manufacturer of lithium-ion batteries for EVs.
Electric cars do not need gasoline and depend solely on batteries to run. Most EVs are powered by rechargeable lithium-ion batteries that usually demand lower costs than gassing up.
As such, EVs as an alternative to gasoline cars is a promising innovation in terms of sustainability and cost. Notably, CATL and other Asian EV battery manufacturers have been leading the global market share board. Such is based from the data of consulting firm SNE Research.
CATL grew from 32.3% to 37.1%. The second top manufacturer is BYD, another Chinese battery manufacturer at 13.6%. Subsequent are South Korea’s LG Energy Solutions and Japan’s Panasonic, with market shares of 12.3% and 7.7%, respectively.

Progression of EV Batteries

Such led to more research on batteries to extend an EV's battery life while compressing its size and reducing its cost. There are also researches on utilizing Battery Swapping Stations (BSS) to expedite the adoption of EVs and EV batteries.

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EV Battery Market Share: CATL Dominates the Global Market