CATL remains the largest battery manufacturer in the first half of 2022

A new semester and the same result as always. Contemporary Amperex Technology Co., CATL, is once again positioned as the world’s largest producer of batteries for electric cars (PHEV and EV). The Asian giant continues to firmly dominate a market that is growing exponentially with each passing month. The market share soars in the first six months of the year, taking a difference of more than 20 points with respect to its closest rival, LG Energy Solution.

34.8% of the batteries equipped in electric cars during the first six months of 2022 are signed by the Asian giant. More than 1 in 3 new cars incorporate CATL technologies. The wide variety of technologies, the manufacturing capacity and the reliability results are the best reasons to understand the success of the company. Its most immediate rival is far away, with a 14.4% market share. The last drawer of the podium is closed by BYD with 11.8% of the total percentage of batteries installed in the first six months of 2022.

From January to June, a total of 203.4 GWh of batteries were installed in electric cars, of which 70.9 GWh correspond to batteries manufactured by CATL. This represents an increase in market share of 6.2% compared to the same period of the previous year. CATL has worked hard during the first six months of the course to increase the pace of production. The Chinese are not planted and are already looking for land and continents to expand to. Mexico will soon have a new CATL factory, although the exact location has not yet been determined.

CATL widens the distance that separates it from its most immediate rivals in battery production

If we go down the scale of production we see as LG Energy Solution has lost 9.4% market share compared to the same period last year, going from 23.8% to 14.4% . On the contrary, BYD has grown tremendously taking the same time frame of 2021 as a reference, going from 6.8% market share to 11.8%. Considerable growth considering that a large part of the batteries manufactured by BYD are for its own use.

The rest of the Top 10 battery manufacturers for electric cars reflects the huge participation of Asian companies: China, South Korea and Japan. From fourth to tenth place they add a total market share of 30.8%, which further highlights the tremendous power of CATL, which manages to manufacture more batteries than seven manufacturers together. Nothing predicts that the situation will reverse in the coming months, since the Chinese company has already announced the next technologies it hopes to bring to production.

The start of the manufacture of the new and mysterious M3P batteries that will begin to be used in 2023 has recently been announced. According to the company, these batteries will offer a higher energy density than current LFP batteries., but at a lower cost than NCM or NCA batteries. In addition to that, CATL is developing a new generation of ultra-fast charging batteries, capable of going from 0 to 80% charge in just five minutes. A record year is expected for the industry, both in manufacturing volume and installed capacity.

Font: SNE Research via CNEVPost

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