Battery market growth slows down, and CATL is the only Chinese battery manufacturer to be spared

The growth rate of the global battery market has slowed down, and the shipments of Chinese battery companies, except CATL, have declined significantly.

According to South Korean technology media "ddaily", market research company SNE Research statistics show that since January 2017, global electric vehicle battery shipments declined in August for the first time, with battery shipments falling to 7.1GWh, a decrease of about 10% compared with the same month of the previous year. The main reason for the decline is the stagnation of the Chinese and American markets.

From the perspective of Chinese battery companies, except for the industry leader CATL, the performance of other battery companies was not as expected. Although CATL's shipments increased significantly by 49.4%, BYD's shipments fell by 61.1%. Battery companies such as AESC, Guoxuan, and Penghui Energy were not immune.

Japan's Panasonic's battery shipments fell 22.5% due to reduced orders from Tesla in the United States.

It is worth noting that although the overall market has declined, the battery shipments of LG Chem, Samsung SDI, and SK Innovation have all increased, and their market shares have also risen accordingly. In particular, LG Chem's growth rate was as high as 79.9%, and it took the third place in the world with a market share of 12.6%.

The cumulative use of electric vehicle batteries from January to August this year was 71GWh, 59.2% higher than the previous year.