Contemporary Amperex Technology Co. Limited (CATL) has further solidified its position as the dominant player in China’s electric vehicle (EV) battery market. According to data released by the China Automotive Battery Innovation Alliance (CABIA), CATL’s market share rose to 47.3% in July 2024, an increase of 2.24 percentage points from June.
Meanwhile, BYD, CATL’s closest competitor, saw its market share decline to 22.83%, a drop of 2.49 percentage points from the previous month. CALB maintained its third-place position with a 7.16% market share.
Lithium iron phosphate (LFP) batteries remain the preferred choice, accounting for 72.5% of total installations, while ternary batteries account for 27.3%. CATL leads both the LFP and ternary battery segments with 38.94% and 70.88% market share, respectively.
China’s battery production capacity continues to grow, with total power battery production reaching 91.8 GWh in July, up 50.49% year-on-year. The country also exported 9.6 GWh of power batteries, demonstrating its strong position in the global EV battery market.
These figures highlight the continued growth and competitiveness of China’s EV battery industry, with CATL maintaining its dominant position while other players such as BYD, CALB and Gotion High-tech compete for market share.
Source: CNEVPOST
