SNE: Chinese manufacturers' market share of electric vehicle batteries is rising rapidly

CTOnews.com, Oct. 7 (Xinhua) Market research company SNE Research said on October 6 that from January to August this year, the global battery consumption of electric vehicles was 287.6GWh, an increase of 78.7 percent over a year ago.

Among them, the use of electric car batteries in Ningde era surged 114.7% year-on-year to 102.2GWh, and the company's market share rose from 29.6% to 35.5%. By contrast, the market share of LG energy solutions fell from 22.3% to 13.7%. The combined market share of SK On, Samsung SDI and LG energy solutions fell from 33.5% to 25%. The use of batteries in BYD electric cars increased by more than 192% compared with the same period last year.

Chinese companies are rapidly expanding their overseas operations. For example, Ningde Times, whose main product is square batteries, recently announced that its cylindrical batteries will be supplied to BMW from 2025. Currently, cylindrical batteries are the main products of LG Energy Solutions, Samsung SDI and Panasonic.

CTOnews.com learned that the Ningde era is also building a factory with an annual output of 100GWh in Hungary with an investment of 7.3 billion euros. This is the second plant of the Ningde era in Europe, after the German plant scheduled to open this year, and the company is also considering building a third plant in Europe to double its battery production.

China is dominating electric vehicle battery minerals, which is a huge advantage for Chinese electric vehicle battery manufacturers. In mineral processing and smelting, China has a market share of 50% to 70% in different areas, and the raw materials used by South Korean electric car battery manufacturers are imported from China in most cases.