According to foreign media reports, with the development of electric vehicles, the world has emerged a number of battery manufacturers, the market share of the top including the CATL, South Korea’s LG New Energy, SK On and Samsung SDI and Japan’s Panasonic, with the increase in demand for electric vehicles, their revenue is also rising.
Judging from the data of research institutions, whether it is sales or net profit, the domestic CATL was higher than the three Korean manufacturers that vigorously developing the electric vehicle battery business last year.
In terms of revenue, CATL last year was 328.594 billion RMB, equivalent to 47.6 billion U.S. dollars, a year-on-year increase of 152.07%; LG New Energy was 19.4 billion U.S. dollars, Samsung SDI was 15.3 billion U.S. dollars, and SK On was 5.8 billion U.S. dollars. The total revenue of the three companies The revenue was US$40.5 billion, which was US$7.1 billion lower than that of CATL.
Higher revenue means that CATL has a higher market share. According to agency data, CATL had a global market share of 37% last year, an increase of 4 percentage points from 2021. The highest among the three major South Korean manufacturers is LG New Energy, but its market share fell 6 percentage points to 23% last year.
In terms of profit, CATL’s net profit attributable to shareholders of listed companies last year was 30.729 billion RMB, equivalent to 4.451 billion US dollars, a year-on-year increase of 92.89%. Among the three major Korean manufacturers, LG New Energy was 533 million US dollars, and Samsung SDI was 610 million US dollars. , SK On had a net loss of US$762 million, and the net profit of the three companies was less than 10% of that of the CATL.
Higher revenue also means that CATL has the ability to make larger investments in research and development and capacity expansion. Foreign media also mentioned in the report that CATL invested about US$2.2 billion in research and development last year, significantly higher than LG New Energy’s US$610 million and Samsung SDI’s US$762 million.
