Chinese Battery Makers Invest $90 Billion Overseas

October 22, 2026

E-mobility, Industry & Market, Material

Chinese battery makers have invested about $90 billion in overseas production and supply chains since 2023, while their combined EV battery share outside China reached 56.2% from January through August this year.

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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.

Ex-China EV batteries · January–August

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.

$90 billionOverseas battery investmentApproximately, across overseas production and supply chains since 2023.

Capacity, January–AugustSharevs same period last year

Three Korean makersShare down 11.1 percentage points96.5GWh26.8%down 12.8%

BYDShare rose from 8.2% to 11.0%39.7GWh11.0%up 66.5%

Six Chinese makers56.2%Up 12.6 percentage points versus the same period last year.

North America25.3GWhThree Korean makers; down 46.5% from 47.4GWh.

Europe52.5GWhThree Korean makers; up 5.2% from 49.9GWh.

LFP share27.5%Up 11.9 percentage points from 15.6%.

CATL, BYD, Gotion, CALB, SVOLT and EVE gained share; BYD installations rose 65.6% in Europe and 138.5% in South America.

LFP Shifts CompetitionChinese production competitiveness and growing LFP adoption by overseas automakers are shifting the global battery market’s competitive landscape.

Chinese Battery Makers Invest $90 Billion Overseas · BatteryTech Network

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