Who powers the world’s EVs? China has 6 of the top 10 EV battery makers with 60 per cent market share, led by CATL and Warren Buffett-backed BYD
- Besides CATL and BYD, CALB, Gotion High-tech, Sunwoda, and Eve Energy feature among the world’s top 10 EV battery makers, according to SNE Research
- CATL installed 165.7 gigawatt hours of battery cells in the first 11 months of last year, giving it a global market share of 37.1 per cent
Chinese electric vehicle (EV) battery makers dominated the global market in 2022, with six companies featuring among the world’s top 10 players and accounting for a 60.5 per cent share amid a doubling of EV sales on the mainland.
CATL installed 165.7 gigawatt hours (GWh) of battery cells from January to November in 2022, 101.8 per cent more than the same period a year earlier, according to the research and consulting services provider. The company’s global market share rose from 32.8 per cent at the end of 2021 to 37.1 per cent.
Shenzhen-based EV and battery maker BYD ranked second. Its installation volume jumped 168.3 per cent to 60.6GWh, taking a 13.6 per cent share of the global market, compared with 8.8 per cent in 2021. Berkshire Hathaway owned 14.9 per cent of BYD’s Hong Kong-listed stock as of December 8, according to stock market filings.
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