On December 5th, the international research institution SNE Research released the latest data on global electric vehicle battery usage from January to October 2024. Data shows that from January to October, the total usage of registered electric vehicle (EV, PHEV, HEV) batteries worldwide approached 700 GWh, reaching 686.7 GWh, a year-on-year increase of 25.0%.
The top 10 companies in terms of global power battery installation volume from January to October 2024 are CATL, BYD, LG New Energy, China Innovation Airlines, SK On, Panasonic, Samsung SDI, Guoxuan High Tech, EVE Energy, and Xinwangda.
It is worth mentioning that due to BYD's focus on self-produced and self sold power batteries, from the perspective of third-party power battery supply, China Innovation Airlines has actually maintained a stable position in the top 3 global power battery shipments, and has opened up a 2GWh gap with SK On, which ranks second.
Overall, there has been no change in the ranking compared to January to September, with six Chinese companies (CATL, BYD, Zhongchuang Aviation, Guoxuan High Tech, EVE Energy, and Xinwangda) still on the list.
From the perspective of growth rate, all six Chinese companies have achieved growth rates higher than the average of 23.4%. In sharp contrast, the growth rates of four overseas companies (LG New Energy, SK On, Panasonic, Samsung SDI) are all lower than the average. Among the four overseas companies, SK On had the highest year-on-year growth rate of only 9.5%, while Japanese sole proprietorship Panasonic experienced a year-on-year decline of up to 21.1%.
In terms of market share, among the top 10 companies in terms of global power battery installation volume from January to October, the total market share of 6 Chinese battery companies increased from 62.8% in the same period last year to 65.5%, while the total market share of 4 overseas enterprises decreased from 30.4% in the same period last year to 24.2%. From the perspective of individual enterprises, all six Chinese battery companies have achieved growth, while all four overseas companies have experienced a decline.
From January to October, CATL maintained its position as the world's top player with a year-on-year growth rate of 28.3% (252.8GWh), thanks to its large customer base. According to SNE information, in China, the world's largest electric vehicle market, major domestic automakers including ZEEKR, AITO, and Ideal Motors, as well as many global automakers such as Tesla, BMW, Mercedes Benz, and Volkswagen, are using CATL batteries.
BYD ranks second with a year-on-year growth rate of 31.3% (115.3GWh). SNE analysis shows that BYD not only produces batteries, but also electric vehicles (BEV+PHEV). With excellent price competitiveness, BYD has launched multiple electric vehicles to the market and won widespread popularity.
From January to October, BYD sold approximately 3.11 million electric vehicles, including approximately 1.39 million pure electric vehicles, which is only 30000 units lower than Tesla's sales of 1.42 million vehicles. BYD is accelerating its growth through a dual track strategy, while targeting the pure electric vehicle and plug-in hybrid electric (PHEV) markets, which is driving the rapid expansion of BYD's battery market share.
The latest news shows that BYD's new energy vehicle sales in November reached a new high, with a monthly sales volume of 506804 units, breaking the monthly sales record of over 500000 units for the second consecutive month.
The performance of China Innovation Airlines is even more impressive, representing the rise of another Chinese power, and China Innovation Airlines has great momentum in the future.
An example is: On November 6th, domestic new energy vehicle company Xiaopeng Motors brought its heavyweight technology - Kunpeng Super Electric System - to AI Technology Day. The Xiaopeng Kunpeng super electric system is based on a full range 800V high-voltage silicon carbide platform, equipped with 5C supercharging AI batteries, hybrid silicon carbide coaxial electric drive, silent range extender, as well as AI battery doctor and AI power functions. Among them, the 5C supercharging AI battery can achieve "1 kilometer per second charging" and can be fully charged to 80% in just 12 minutes.
It is reported that the power system supplier for the Xiaopeng Kunpeng super electric system is China Innovation Aviation.
After the release of the Kunpeng super electric system supporting China Innovation Airlines, on November 7th, China Innovation Airlines' high-end product "Top Flow" Supercharged 5C Lithium Iron Phosphate Battery Pack was officially launched in Jiangmen.
The top current overcharging 5C lithium iron battery pack that was taken offline this time is an iteration of the world's first independently developed L300 lithium iron phosphate product by China Innovation Airlines. It is based on the 800V high-voltage platform and has both high specific energy and ultra fast charging characteristics. The charging rate is 5C, the peak charging power can reach 540kW, and the 10% -80% SOC charging time is ≤ 12 minutes. The power is stable and abundant, and it will be launched with multiple new models of Xiaopeng Motors.
The successful production of the top flow overcharging 5C lithium iron battery pack means that Zhongxin Aviation's high-voltage overcharging products have achieved mass production ahead of schedule.
Among the other three Chinese companies on the list, from January to October, Guoxuan High Tech ranked eighth in the world with a loading volume of 17.7 GWh, a year-on-year increase of 38.3%, and a market share of 2.6%; Yiwei Lithium Energy ranks ninth in the world, with a loading volume of 16.3GWh, a year-on-year increase of 31.5%, and a market share of 2.4%; Xinwangda ranks tenth globally with a loading volume of 14.3 GWh, a year-on-year increase of 68.2%, and a market share of 2.1%.
In terms of South Korean enterprises, from January to October, the total installed capacity of LGES, SK On, and Samsung SDI, the three major battery companies in South Korea, was 138.5GW, compared to 130.3Wh in the same period last year.
The market share of the three major Korean battery companies in global electric vehicle battery usage is 20.2%, a decrease of 3.5 percentage points compared to the same period last year.
In terms of Japanese companies, Panasonic remains the only Japanese company to enter the TOP10 global power battery installation volume. From January to October, Panasonic ranked sixth with a installation volume of 28.4GWh and a market share of 4.1%. Meanwhile, Panasonic is also the only company in the TOP10 that has experienced a decline in its vehicle inventory, with a year-on-year decrease of 21.1% from January to October.
SNE analysis states that Panasonic mainly supplies batteries to Tesla, and the main reason for the year-on-year negative growth in vehicle volume is the decline in sales of the Model 3, which was temporarily discontinued due to a facelift at the beginning of the year, as well as Tesla's negative sales growth this year. Panasonic is expected to release improved Tesla specific 2170 and 4680 batteries to restore market share centered around Tesla.
