With a market share of 16.2%, BYD surpassed LG to become the world's second largest supplier of EV batteries.

CTOnews.com, May 9, according to the latest report released by South Korean market research firm SNE Research, BYD has overtaken LG Energy Solution and ranked second with 16.2% market share.

According to the report, CATL continues to hold on to the number one position in the electric vehicle battery industry, supplying passenger car models such as Tesla Model 3 and Model Y, with a market share of 35 per cent.

This means that China's Ningde Times and BYD occupy the top two places in the global list of battery suppliers for electric vehicles.

The report shows that the total global battery consumption of electric vehicles in the first quarter was 133.0 GWh, up 38.6% from 95.9 GWh in the same period last year.

CTOnews.com attached the report data as follows:

Ningde Times installed 46.6 GWh of batteries in the first quarter, up 35.9% from 34.3 GWh in the same period last year.

BYD installed 21.5 GWh of power batteries in the first quarter, up 115.5% from 10.0 GWh in the same period last year.

The installed capacity of power batteries in LG Energy Solution from January to March was 19.3 GWh, an increase of 37.5% over the same period last year. It ranks third in the world with a share of 14.5%, down from 14.6% a year ago.