China's technology benefits the world, and Tesla Model 3 with Ningde era batteries enters South Korea.

CTOnews.com, October 6 (Xinhua)-- China, Japan and South Korea currently control more than 90% of the world's car power battery market.

It is understood that in 2021, the global installed capacity of power batteries in Ningde era is as high as 96.7GWh, with a market share of 32.6%, an increase of 167.13% over the same period last year; the second-largest installed capacity of LG new energy is 60.2GWh, with a market share of 20.3%, an increase of 75.51% over the same period last year.

According to TheElec, Tesla has started selling Model 3 standard Plus models using CATL batteries in South Korea. Sources said that although there are only some models at present, all Model 3 standard long-range Plus models ordered by South Korean users already use batteries from Chinese companies. These models are produced at the Tesla plant in Fremont, USA, and use lithium iron phosphate batteries.

CTOnews.com learned that Kia is the first Korean car brand to sell CATL batteries in South Korea, where Kia currently sells the Niro EV using nickel-based batteries from the Ningde era.

Tesla's Model 3 model in the United States uses lithium iron phosphate batteries due to rising nickel and cobalt costs, and the company has raised the pricing of its major models several times this year, the report said.