Chinese EV Battery brands on the rise, Svolt enters Top 10 for the Chinese market

28 October 2020, 01:37:18

Chinese EV Battery brands on the rise, Svolt enters Top 10 for the Chinese marketAccording to the Chinese market research firm Battery China, a total of 6.6GWh of EV batteries were deployed in September on the Chinese market which marks a 66.4% YoY increase and a 28.3% MoM increase. CATL took first place with a 47.1% market share, followed by BYD with a 14.4% share and LG Chem with a 13.8% share.

LG Chem's local performance is entirely dependent on the Tesla Model 3 orders. Vehicles from the Volkswagen and SAIC Motor joint venture will enter production later this month, so an increase in market share for the next month is expected.

AVIC might not sound familiar to people outside China but it is a long-established Li-Ion battery producer that has made a noticeable comeback, evidently, taking fourth place with a 4.9% market share. AVIC's customers' list for EV batteries includes GAC, Changan, Jinkang, Shanxi New Energy, GAC Toyota, Dongfeng, Geely, etc.

Another interesting fact is the Svolt entered the top ten list for the first time. The spin-off from Great Wall plans to invest CNY 10 billion for a 20GWh factory and an additional EUR 2 billion in Europe.

The SK Innovation and EVE Energy joint venture will start production in the second half of 2021, which could also result in a shift in the Top 10.Source

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EV Specifications

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2022 Hyundai IONIQ 5

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