Vehicle batteries at the CATL headquarters

Car batteries on the CATL headquarters in Ningde, Fujian Province, China. (Qilai Shen/Bloomberg Information)

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Modern Amperex Know-how Co. Ltd.’s share of the electrical car battery market continues to develop, in keeping with the most recent knowledge from Seoul-based SNE Analysis, which present the Chinese language firm accounted for 37.1% of world gross sales within the first 11 months of 2022.

CATL offered a complete of 165.7 gigawatt-hours of batteries within the January-November interval, virtually thrice as a lot as second-place BYD Co., one other Chinese language battery maker. South Korea’s LG Vitality Answer slipped to 3rd, SNE stated in a report printed Jan. 4.

CATL’s market share was about 35% within the first 10 months of final yr. The Fujian-based firm provides carmakers together with Volkswagen AG, Geely Car Holdings Ltd., Nissan Motor Co. and Tesla Inc., which delivered fewer EVs than anticipated final quarter, regardless of providing some value cuts.

Whole gross sales of EV batteries climbed 70% to 57.2 GWh in November from a yr earlier, pushed by EV gross sales progress in main markets, particularly China, in keeping with SNE. China’s retail gross sales of new-energy autos, which embrace pure battery-electric vehicles and hybrids, rose 58% in November to 598,000 models, the Passenger Automobile Affiliation stated in December.

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