Global EV Battery Installations Hit 244.6 GWh in Q1: CATL Holds 40.7%, BYD 13.7%

According to the latest data from South Korean market research firm SNE Research, global electric vehicle battery installations, including EVs, PHEVs, and HEVs, reached approximately 244.6 GWh in the first quarter, up 9.1% year-on-year.

In March alone, global battery installations reached 109.6 GWh, surging 74% from February’s 63 GWh, indicating a clear market recovery.

Chinese battery manufacturers continued to dominate the global market.

Seven of the world’s top ten battery suppliers were Chinese companies, with combined installations totaling 174.3 GWh, accounting for 71.4% of the global market.

Among them, CATL and BYD remained firmly in the top two positions globally, with combined installations reaching 133 GWh, representing 54.4% of worldwide market share.

CATL retained its position as the global leader. Its first-quarter installations reached 99.5 GWh, up 15.2% year-on-year, while its market share expanded to 40.7%.

BYD ranked second with 33.5 GWh of installations. However, its market share declined from 16.2% a year earlier to 13.7%.

SNE Research attributed the decline mainly to a temporary slowdown in BYD’s domestic vehicle sales.

Data shows that BYD’s total vehicle sales in the first quarter reached approximately 700,500 units, down 30% year-on-year.

However, overseas markets are becoming an increasingly important growth driver. During the same period, BYD’s overseas sales approached 320,000 units, accounting for 46% of total sales, a record high.

Other Chinese battery makers also continued expanding their presence. CALB ranked fourth globally with 11.6 GWh of installations, up 31.7% year-on-year.

Gotion High-Tech, EVE Energy, and SVOLT ranked fifth, eighth, and ninth respectively, with installations of 10.2 GWh, 7.5 GWh, and 6.5 GWh.

Their year-on-year growth rates reached 26.3%, 17.5%, and 33.6%, respectively.

The most notable change in the rankings came from Sunwoda. Its first-quarter installations rose to 5.5 GWh, up 24.5% year-on-year, allowing it to enter the global top ten for the first time and replace Samsung SDI, which had long maintained a position on the list.

By comparison, Japanese and South Korean battery makers showed slower growth overall.

Panasonic, LG Energy Solution, and SK On recorded first-quarter installations of 23.7 GWh, 9.1 GWh, and 9.0 GWh respectively, as their market shares continued to face pressure from Chinese competitors.