Global EV battery market - a 38.6% YoY growth in Q1 of 2023

5 May 2023, 01:45:01

Global EV battery market - a 38.6% YoY growth in Q1 of 2023SNE Research reported that the global EV battery market has recorded a 38.6% YoY growth in Q1 of 2023. The total amount of energy held by batteries for pure EVs, PHEVs, and HEVs was around 133 GWh. CATL remains the top market player with a growth rate of 35.9% and 35% market share. BYD experienced a staggering growth in the Q1 of 115.5% but ranks second in market share with 16.2%. LGES is third with a growth rate of 37.5% and 14.5% of market share. It is followed by Panasonic with a 37.7% growth and 9% market share. SK On is fifth with 5.1% and 5.3% market share. Samsung SDI is sixth with a significant growth of 52.9% but with a humble market share of 4.9%. The other brands that complete the top ten market players are CALB, Guoxuan, EVE, and Sunwoda.

Such an upward trend in the growth of the LGES, Samsung SDI, and SK On was mainly affected by sales of electric vehicle models equipped with batteries of each company. SK On continued to grow thanks to the increasing sale of the Hyundai Ioniq 5, KIA EV6, and VW ID.4. KIA EV9, about to be launched shortly, has been known to use high-capacity battery, which draws attention from the industry whether it can add more momentum to the growth of SK On. Samsung SDI exhibited the highest growth among the three Korean battery makers as BMW i4 and iX have drawn popularity on the global stage and Rivian's pick-up truck R1T/S has been sold in greater numbers. LGES has maintained a double-digit growth thanks to strong sales of the Tesla Model 3 and Model Y, Ford Mustang Mach-E, and Volkswagen ID. 3 and ID.4.

The usage of batteries made by Panasonic, the only Japanese company in the top ten list, consisted mostly of those installed in Tesla models in the North American market.

CATL maintained its global top position because its batteries have been highly sought after not only by Tesal for Model 3 and Model Y but also by Chinese commercial and passenger vehicles producers such as SAIC for its Mulan and GAC Group for the Aion Y. BYD has drawn great popularity in the Chinese domestic market based on its price competitiveness through vertical SCM integration such as in-house battery supply and vehicle manufacturing. As BYD is known to enter the European market as well as the Korean market soon, attention should be paid to potential changes in the growth of BYD.Source

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EV Specifications

Complete specifications of EVs, grouped according to their brand and year

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Width: 76.3 in / 1938 mm
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Location: Rear
Location: Front
Battery: 100 kWh, Voltage: 800 V

2024 Porsche Macan

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Doors: 4, Seats: 5
Length: 188.3 in / 4784 mm
Width: 76.3 in / 1938 mm
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Location: Rear
Location: Front
Battery: 100 kWh, Voltage: 800 V

2024 Xiaomi SU7

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2024 Xiaomi SU7

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Doors: 4, Seats: 5
Length: 196.7 in / 4997 mm
Width: 77.3 in / 1963 mm
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Electric motor #1: 275 kW, 500 Nm, Location: Rear
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2024 Volkswagen ID.7

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Length: 212.2 in / 5391 mm
Width: 76.8 in / 1950 mm
Height: 60.8 in / 1544 mm
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Electric motor #1: 190 kW, 365 Nm, Location: Rear
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Doors: 5, Seats: 5
Length: 195.0 in / 4953 mm
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2023 BMW iX

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Curb weight: 5862.09 lb / 2659 kg
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Length: 195.0 in / 4953 mm
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