The latest statistics from South Korean market research firm SNE Research show that in the first quarter of 2023, global electric vehicle battery installations reached 133.0GWh, up 38.6% year-on-year and down slightly from last year, but still maintaining a solid upward trend. Ningde Times held the number one position, BYD maintained second place with more than double the growth, and LG ranked third.
From January to March 2023, the total battery energy used in electric vehicles (EV, PHEV, HEV) worldwide was approximately 133.0 GWh, up 38.6% year-on-year. BYD, with its price advantage in the domestic market and autonomous supply chain management, achieved more than twice the growth and ranked second.
The three Korean battery manufacturers (Samsung SDI, LG Energy Solutions and SK Innovation) had a combined market share of 24.7%, down 1.3 percentage points from the same period last year, but on an upward trend overall. LG Energy Solutions ranked third, up 37.5% year-on-year. SK Innovation ranked fifth, up 5.1% year-on-year. Samsung SDI ranked sixth, up 52.9% year-over-year.
The only Japanese battery manufacturer in the top 10 was Panasonic, which used 11.9 GWh of batteries, up 37.5 percent year-over-year. As one of Tesla’s main battery suppliers, Panasonic’s batteries are mainly installed in Tesla models sold in the North American market.
In the first quarter of 2023, CATL Times’ power battery installation reached 46.6GWh, up 35.9% year-on-year. Its market share reached 35.0%, accounting for one-third of the global market and firmly ranking first in the world. Ningde Times is expected to continue to firmly grasp the leading position in the global market.
