Digitimes Asia: global EV sales reach 9.78 million units in 2022

11 January 2023, 03:28:53

According to Digitimes Research reported by Digitimes Asia, the global sales of electric vehicles have reached 9.78 million units in 2022. The projected growth for this year is 49% to 14 million units sold globally. Of those, 9 million are expected to be sold in China only. Even now, China's share of the global EV sales is higher than 60%. For comparison, Europe sales account for 24% of the total sales, and USA sales account for 9% of the global EV sales.

Digitimes research analysts point out several reasons for China's leadership in the EV market, including government support for EV manufacturers, various type of subsidies for vehicle purchases, the creation of the densest charging infrastructure in the world, the formation of industrial clusters and complete eco-systems related to EVs. China's EV industry has a global market share of over 50% in major segments such as battery raw materials, integration, and charging infrastructure, and exports are still price-competitive.

Furthermore, with the battery accounting for 30-35% of the cost of a vehicle, China holds a major part of this market. The country is the largest supplier and refiner of rare earth metals with 80% of the global share of processing battery raw materials. The largest battery producer for EVs is China-based CATL and it expects its battery capacity to reach 672 GWh annually. For comparison, LG Energy Solution also expects an increase to 430 GWh. Japan-based Panasonic will increase its annual production to 164 GWh.

Europe heavily depends on Chinese brands in the battery production and assembly context. Moreover, the country is a major investor in the local supply chain and EV technologies. All this poses risks to the segment's industrial autonomy.

Due to the US-China trade war, the USA as the third-largest EV market turns to South Korean companies which are expected to account for more than 60% of the battery production capacity in North America.Source

News related to CATL, LG, Samsung, Panasonic or Tesla

Tesla China has listed the facelifted Model Y with code name Juniper and official name "Model Y Launch Series" on its website. There are two variants available and the first units are scheduled for March delivery. The updated Model Y delivers a longer range, improved performance, and some changes in design details. Its starting price is 5% higher on average. The first variant is Tesla Model Y RWD priced at CNY...

10 January 2025

Lucid Gravity Grand Touring will be powered by Panasonic Energy's lithium-ion EV battery cells. With an EPA-estimated range of up to 450 miles from a battery pack that is up to 40% smaller than competitors', the collaborative efforts between Panasonic and Lucid have helped deliver an SUV with a previously impossible combination of outstanding range, performance, and interior space. Enabled by Lucid’s revolutionary...

7 January 2025

CATL officially launched the CATL Bedrock Chassis, the world's first ultra-safe skateboard chassis. With its outstanding performance of withstanding 120 km/h frontal impact without catching fire or exploding, CATL's Bedrock Chassis sets a new standard for intelligent chassis safety, providing comprehensive protection across all scenarios and speed ranges. With the battery-centered design, CATL's Bedrock Chassis...

26 December 2024

Stellantis and CATL today announced they have reached an agreement to invest up to €4.1 billion to form a joint venture that will build a large-scale European lithium iron phosphate (LFP) battery plant in Zaragoza, Spain. Designed to be completely carbon neutral, the battery plant will be implemented in several phases and investment plans. Targeted to start production by end of 2026 at Stellantis’ Zaragoza, Spain...

10 December 2024

LG Energy Solution announced a new partnership agreement with General Motors (GM) for prismatic battery cell technology, marking an extension of the two companies’ solid 14-year battery technology partnership. Under this new definitive agreement, the companies will jointly develop prismatic battery cell technology and affiliated chemistries, and once the partnership comes to fruition, the prismatic cell technology...

4 December 2024

SAIC-GM announced on China's QQ network that they jointly launched with CATL the industry's first 6C ultra-fast charging lithium iron phosphate battery, setting a new technological benchmark. The first innovation in the 6C battery is the super-electronic network cathode technology built with fully nano-based ferromagnetic acid materials that improve the efficiency of electrochemical reactions and enhance the...

26 September 2024

Subaru and Panasonic Energy announced plans to prepare for the supply of automotive lithium-ion batteries and joint establishment of a new battery factory in Oizumi, Gunma Prefecture, Japan. Panasonic Energy will supply its next-generation cylindrical automotive lithium-ion batteries for the battery electric vehicles (BEVs) Subaru plans to produce starting in the latter half of the 2020s. This follows their...

9 September 2024

Panasonic Energy announced that it finalized preparations for mass production of the 4680 cylindrical automotive lithium-ion batteries, marking a much-anticipated breakthrough in the industry. The company has also revamped its Wakayama factory in Western Japan, which will serve as the mother factory for the new cells. An opening ceremony was held today to commemorate the occasion. The mass production is set to start...

9 September 2024

A Chinese news outlet - Late Post - has obtained and shared information that Tesla plans to launch two Model Y versions next year. The first is a 5-seat version, code-named Juniper, and planned for Q1 launch. The second is a totally new 7-seater and is scheduled for a Q4 launch. It may be available exclusively in China and will be different from the 7-seater sold in the U.S. According to the report, the update of...

29 August 2024

CATL has started building its first battery production facility in North China called. It is a joint investment between CATL, BAIC Group, Beijing Energy Group, Xiaomi Group, and others. The groundbreaking ceremony was held yesterday. Currently, CATL has 11 factories in China and 7 of those are joint ventures with Chinese automakers. This new one will be the 12th in total and the 8th joint venture. Two other CATL...

19 June 2024

CATL unveiled the world's first LFP battery that achieves a range above 1000 km with 4C superfast charging - the Shenxing PLUS. The 1000 km pure electric range comes from continuous technological breakthroughs. The cathode of Shenxing PLUS is made with a granular gradation technology, which places every nanometer particle in the optimal position to achieve ultra-high compact density. The proprietary 3D...

25 April 2024

Mazda and Panasonic Energy have signed an agreement on the supply of cylindrical automotive lithium-ion batteries. Earlier this month, Subaru also announced it signed a basic cooperative agreement with Panasonic Energy for the supply of cylindrical automotive Li-Ion batteries. In June and July 2023, Mazda and Subaru commenced discussions with Panasonic Energy aimed at building a medium- to long-term partnership for...

30 March 2024

Toyota Motor Corporation (TMC) has agreed with Panasonic Holdings Corporation (Panasonic HD) to make Primearth EV Energy Co., Ltd. (PEVE) a wholly-owned subsidiary to strengthen its capabilities in mass-producing automotive batteries. The acquisition is scheduled to take place in late March. Among Toyota-affiliated companies, currently PEVE, Toyota Industries Corporation, and Prime Planet Energy & Solutions, Inc...

5 March 2024

With a simple message on X (former Twitter), Tesla announced the availability of the "upgraded Tesla Model 3" Highland. As per the company's own words, the upgrade has been reflected mainly in the interior offering: softer and more sophisticated materials for a more premium look and feel improved sound with 17 speakers, dual subwoofers, and dual amplifiers quieter cabin thanks to 360-degree acoustic glass all-glass...

10 January 2024