The gap between Ningde Times and LG New Energy in market share has significantly narrowed, with only 1% difference

The market share gap between Ningde Times and LG New Energy has decreased to only 1%

【PhoneAuto News】According to foreign media reports, China’s battery industry is rapidly increasing its share of the global battery market, and the gap between LG Energy Solution and China’s CATL has narrowed to about 1% in the first four months of 2023.

According to data from energy market research company SNE Research on June 8th, in the first four months of 2023, the total usage of electric vehicle batteries produced by LG new energy in the global market (excluding China) reached 24.1 gigawatt-hours (GWh), a year-on-year increase of 49.2% from 16.1 GWh in the same period last year, ranking first in battery usage worldwide. Second place is China’s CATL. In the global market, CATL’s battery usage almost doubled in the first four months of 2023, reaching 23.0 GWh, compared to 11.7 GWh in the same period of 2022.

• The battle in the new energy vehicle market reignites in the second half of the year, with the country’s entrance into the market and the launch of subsidies for rural areas
• The Xiaopeng G6 will officially go on sale on June 29th with a comprehensive range of up to 755km
• China Association of Automobile Manufacturers Car sales in May reached 2382 million units, a year-on-year increase of 279%

In the global market excluding China, LG Energy Solution’s share in the first four months of 2023 remained flat at 27.8% compared to the same period in 2022. However, CATL’s share jumped from 20.1% in the first four months of 2022 to 26.5% this year. LG Energy Solution and CATL’s market share more than doubled in 2021, reaching 35.1% and 14.0%, respectively. However, their market share decreased to 29.7% and 22.3% respectively last year, and the gap narrowed to 1.3 percentage points in the first four months of 2023.

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