Chinese battery manufacturers have rapidly expanded their global presence despite ongoing safety concerns both at home and abroad, according to data and industry officials, Friday.
According to data from market tracker SNE Research, global battery consumption for plug-in hybrid electric vehicles, electric vehicles (EV) and hybrid cars — excluding those in China — totaled 165.3 gigawatt-hours (GWh) in the first half of 2024, up 13.1 percent from the previous year.
The increase was driven by the robust growth of multiple Chinese battery firms.
The figure for CATL, the world’s largest 커뮤니티 battery firm, came in at 44.9 GWh, up 12.1 percent during the same period. The company held a 27.2 percent share of the global battery market from January to June.
CATL’s influence is growing as top-selling EVs from global automakers source their batteries from the Chinese company. They include Tesla’s Model 3 and the Model Y. Mercedes-Benz also sources batteries from CATL for the carmaker’s EQ series. Volkswagen is also forging a supply partnership with CATL.
BYD, another rapidly growing battery player in China, also expanded its presence by attaining growth of 144.8 percent. BYD battery consumption reached 6 GWh.