As we all know, for electric vehicles , the two core components of engine and gearbox are no longer needed. Instead, they are replaced by the three-electric system, including motor, electronic control and battery . Among them, the battery is the most critical thing.
It can be said that if you master batteries, you will master the core industrial chain of electric vehicles.
So the question is, what is the current market situation of power batteries ?
The data is shown in the figure below, which shows the global power battery installation capacity from January to June 2024, as well as ranking, market share, etc.
According to data from SNE Research, a well-known Korean organization, the global installed capacity of power batteries in the first half of this year was 364.6GWh (gigawatt hours), a year-on-year increase of 22.3%.
Among them , CATL ranks first for seven consecutive years. Its installed capacity in the first half of the year reached 137.7 GWh, accounting for 37.8% of the global market, an increase of 29.5% year-on-year.
The second-place BYD also achieved impressive growth, with global installed capacity of 57.5 GWh, a year-on-year increase of 22%. Its market share was the same as last year, reaching 15.8%, ranking second in the world. The two Chinese companies took 51.5% of the market share.
Next are LG, SK on, and China Innovation Aviation. Among the top five, there are three Chinese companies, and among the top 10, there are six Chinese companies and only four foreign companies, namely LG, SK on, and Samsung from South Korea, and Panasonic from Japan.
In total, these six major Chinese companies have captured more than 60% of the market share, truly occupying a monopoly position.
In fact, it is not surprising that China is in a monopoly in batteries. On the one hand, more than 70% of the world's electric vehicles are produced and sold in China. With such a large market, it is natural that Chinese battery manufacturers have the advantage of being close to the water and getting the moon first.
What is more important than the market is that China currently has an absolute monopoly on key raw materials for power batteries, especially the production of key minerals for batteries. This naturally makes it impossible for batteries from other countries to compete with China.
As shown in the figure below, China accounts for more than 70% of the key materials in many projects, and even 100% of the share in graphite.
Therefore, even US President Biden has to admit that China is currently leading the world in electric vehicles. After all, we have mastered the core components and core materials of electric vehicles . How can we not be ahead?
This is also the reason why the United States and Europe impose high tariffs on Chinese electric vehicles, because they cannot compete and have no other choice but to close their countries.
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