Major Chinese battery suppliers have invested approximately $90 billion in overseas battery production and supply chains since 2023, according to an October 21 Financial Times report cited by Business Korea. The investments by companies including Contemporary Amperex Technology Co., Limited (CATL), BYD Company Limited (BYD), and Gotion High-tech Co., Ltd. cover regions including Europe and Southeast Asia.
SNE Research reported that six Chinese battery companies held a combined 56.2% share of the global electric vehicle battery market excluding China from January through August this year. Their share increased by 12.6 percentage points from the same period last year. The combined share of three South Korean suppliers fell by 11.1 percentage points to 26.8% over the same period.
BYD recorded particularly strong growth outside China. The installed capacity of batteries supplied by BYD reached 39.7 GWh, up 66.5% from the same period last year. Its market share increased from 8.2% to 11.0%. BYD’s battery installations rose by 65.6% in Europe and 138.5% in South America.
The combined battery installation volume of LG Energy Solution Ltd., Samsung SDI Co., Ltd., and SK On Co., Ltd. declined by 12.8% to 96.5 GWh in markets excluding China. In North America, their installations dropped by 46.5%, from 47.4 GWh to 25.3 GWh. European installations increased by 5.2%, from 49.9 GWh to 52.5 GWh, but did not offset the North American decline.
Chinese Battery Makers Invest $90 Billion Overseas
Chinese suppliers gained share outside China as LG Energy Solution, Samsung SDI and SK On lost ground, while low-cost LFP adoption reshaped competition.
CATL, BYD, Gotion, CALB, SVOLT and EVE gained share; BYD installations rose 65.6% in Europe and 138.5% in South America.
The shift coincided with increased adoption of lithium iron phosphate batteries. SNE Research said LFP batteries accounted for 27.5% of the EV battery market outside China from January through August this year, compared with 15.6% during the same period last year. The source attributed the change to lower LFP manufacturing costs, Chinese suppliers’ production competitiveness, and increased adoption by overseas automakers.
Source: businesskorea.co.kr






