CATL advances as the most valuable private energy company in China

Power battery giant CATL dominated the rankings of China’s most valuable private energy companies, according to  Hurun Research Institute’s report.

CARL has a market valuation of RMB 1.04 trillion ($142 billion), which enabled the company to beat its competitors in the country.

Notably, this latest ranking signifies Hurun’s first time to publish a report defining local private firms as non-state-owned entities.

CATL’s local battery installations – July 2023

China deployed a total battery capacity of 32.2 GWh in July. It indicates a year-on-year increase of 33.4% and a 2% month-on-month drop, CnEVPost reported, citing China Automotive Battery Innovation Alliance’s (CABIA) data.

CATL reportedly installed a power battery capacity of 13.47 GWh in July. Its remarkable market share of 41.79% enabled it to defend its position as the leading battery maker in the country in the seventh month of the year.

For comparison, BYD only installed 9.35 GWh of power battery capacity in the same period. Its market share was 29.01%, placing it in the second spot.

EV players on the list

Apart from the industry leader CATL, other new energy vehicle (NEV) players also got on the list. 

CnEVPost reported that BYD trailed behind CATL with a valuation of RMB 700 billion. EREV maker Li Auto followed with RMB 300 billion market value.

Electric automaker NIO landed the eighth spot with RMB 140 billion value. Meanwhile, Eve Energy got the 9th spot with RMB 10 billion.

Another EV maker, XPeng, ranked 15th with an RMB 94 valuation. Zeekr was the 17th placer with RMB 90 billion.

Notably, the list evaluated Chinese private firms with energy products accounting for over 50% of their operation. 

Of the 100 companies on the list, 29 were power battery makers. Meanwhile, 12 of them were NEV players.

China’s private energy companies with more than RMB 100 billion market valuation

Below are the rankings of the Chinese private energy firms worth more than RMB 100 billion:

See Also:

• CATL develops the world’s first “superfast” charging EV battery with 400 km range in just 10 minutes 
• CATL reaches zero carbon emissions at its 2nd production hub
• China’s CATL records profit growth of 63% thanks to expanding EV uptake
• CATL to expand battery recycling operations in Europe and North America
• Battery giant CATL forms aviation unit for electric airplane development

CATL’s dominant position in the Chinese energy industry is unsurprising, considering its innovative products and major partnerships with established companies like Tesla. It would be exciting to see CATL’s future progress in its battery breakthroughs, including the Shenxing battery. It claims that this battery tech is the “world’s first 4C superfast charging LFP battery” with a range of 700+ km on a full charge.