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CATL and LG Energy Solution Leading Global EV Battery Market

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Global EV battery usage has more than doubled in one year.

Market research firm SNE Research announced on March 31 that the global EV battery usage was 53.5 GWh in January and February this year and more than doubled in one year.

According to it, the usage of LG Energy Solution batteries was 7.4 GWh, up 37.6 percent from a year ago. It came in second, although its market share fell from 20.7 percent to 13.8 percent. The batteries are used in Tesla Model Y, Volkswagen ID.4, Audi Q4 e-tron, etc.

The usage of SK On batteries increased from 1.4 GWh to 3.5 GWh in one year. It came in fifth by increasing its market share from 5.4 percent to 6.5 percent. Its batteries are used in Hyundai Ioniq 5, Kia Niro, Kia EV6, and so on.

The usage of Samsung SDI batteries increased 30.7 percent to 2 GWh, and yet its market share fell from 6 percent to 3.8 percent and its ranking fell from fifth to seventh.

CATL recorded a usage and market share of 18.4 GWh and 34.4 percent, respectively. BYD beat Panasonic and came in third by increasing its market share to 11.9 percent. Panasonic recorded 5.8 GWh and 10.8 percent and fell to fourth.

Last month, the global EV battery usage was 25.9 GWh and increased for the 20th consecutive month. The usage is more than 220 percent of the February 2021 figure.

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