CATL and BYD Topped Global Installed Capacity of Electric Vehicle Batteries in April

SHANGHAI, Jun 10 (SMM) - According to data released by South Korean market research agency SNE Research, the global installed capacity of electric vehicle batteries reached 27.1 GWh in April 2022, a year-on-year increase of 52.3%, and maintained steady growth for 22 consecutive months. CATL continued to top the list, while BYD overtook LG Energy Solution to rank second after surpassing Panasonic.

CATL, BYD and LG Energy Solution were the global top three battery manufacturers in April in terms of electric vehicle battery installed capacity. The installed capacity of CATL was 8 GWh, a year-on-year growth rate of 49.5%, but its market share dropped from 30.1% in the same period last year to 29.6%. BYD's installed capacity increased by 233% year-on-year, and its market share increased by 8.6 percentage points. LG Energy Solution's installed capacity decreased by 22.6% year-on-year, and its market share decreased by 12.3 percentage points.

In the first four months of this year, the global installed capacity of electric vehicle batteries totalled 122.9 GWh, an increase of 83.4% over the same period last year, maintaining the upward trend that began in the second quarter of 2020. Among them, CATL took the lead with an installed capacity of 41.5 GWh and a market share of 33.7%. LG Energy Solution ranked second, but its installed capacity rose just 19.1%. BYD's installed capacity increased by 224.5% year-on-year, and its market share increased by 5.3 percentage points.