Chinese battery manufacturers have extended their dominance over global supply, with the top two producers reaching a combined market share of 50%, and leaving South Korean and Japanese rivals lagging behind, reports the Financial Times. CATL, supplier to carmakers including Tesla and Volkswagen, more than doubled battery sales to 165.7 gigawatt hours in the 11 months to the end of November, according to data from Korea’s SNE Research—enough for roughly 3.3mn average-sized electric vehicles.
That extends the company’s lead as the world’s biggest producer and takes its market share to 37.1%, up from 32.2% in 2021.
The SNE report also showed “frightening” growth at China’s second-largest cell producer and EV manufacturer BYD, whose battery sales almost tripled to 60GWh over the same period to give it a 13.6% market share.
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