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.

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.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Ideal MEGA full-body photo released. Is this the face value of the MPV with the lowest wind resistance coefficient?

[PhoneAuto News] On November 10, the full-body photo of the Ideal MEGA was released to the public. The official state...


Brand new Hongqi L5 will start delivery in 2024. The car is nearly 6 meters long and priced at one million.

【PhoneAuto News】As a representative of domestic luxury cars, the upgraded Red Flag L5 always attracts attention. On...


Cui Dongshu, Secretary General of the China Association of Automobile Manufacturers Strong Demand for New Energy Vehicles in Medium-Sized Cities

【PhoneAuto News】Recently, PhoneAuto has noticed that Cui Dongshu, Secretary General of the China Passenger Car Asso...


Starting from 93,800 yuan! Wuling Sunshine officially starts pre-sale, with a maximum pure electric range of 510 km.

【PhoneAuto News】 On November 17, PhoneAuto learnt that Wuling Motors officially opened the pre-sale for their first...


Nissan will develop cheaper solid-state batteries, with the first model set to launch in 2028.

[PhoneAuto News] Recently, PhoneAuto noticed at the Japan Mobility Show in Tokyo, Nissan's research department vice p...


General Motors releases Q3 2023 financial report with a net profit of $3.1 billion.

【PhoneAuto News】On the evening of October 24, General Motors Company released its third quarter financial report fo...