A recent report from Seoul-based SNE Research revealed that in September, LG Energy Solution had a 16% global market share with 8.8 GWh of power battery installations. It surpassed the leading Chinese EV and battery giant with just 13.3%.
BYD versus LG Energy Solutions (July-August)
The report states that the power battery installed by BYD in September had a capacity of 7.3 GWh. According to data that BYD previously made public, it installed roughly 8.610 GWh of power and energy storage batteries in September. It increased by 13.99% from 7.553 GWh in August and 104.80% from 4.204 GWh a year ago.
Based on an earlier report by SNE Research, BYD’s installed power battery volume was 6.4 GWh in July. Its global market share hit 16.2%, overthrowing LG Energy Solution with only 11% for the first time in the second position. With a share of 14.3% in August, BYD continued to beat LG Energy Solution’s 11%.
Meanwhile, SNE Research’s recent report reveals that CATL continued to lead the market with an installed power battery volume of 19.9 GWh, resulting in a 36.3% market share in September.
Japan’s Panasonic, South Korea’s SK On, and Samsung SDI all trail the top 3 companies in terms of market share, with 6.5%, 5.1%, and 4.4%, respectively. It was followed by #7 China’s CALB with 3.7%, #8 Gotion High-tech with 2.9%, #9 Sunwoda with 1.8%, and #10 Svolt Energy with 1.3%.
Notably, the total amount of EV batteries deployed worldwide in September was reportedly 54.7 GWh, an increase of 61.2% from the previous year.
January to September rankings
With respective shares of 35.1% and 14.1% from January to September, CATL and LG Energy Solution held the top two spots. Meanwhile, BYD came in third, Panasonic was fourth, and SK On was fifth, with market shares of 12.8%, 8.1%, and 6.2%, respectively.
BYD is known as the Chinese electric vehicle and battery technology giant. That said, it is interesting that it was dethroned by the South Koreanbattery company LG. Nonetheless, only time will tell what will happen to these rivals by the end of the year.