CATL Leads China's EV Battery Market Growth in March, BYD Surges on NEV Sales

In March, CATL saw an increase in its portion of China's electric vehicle (EV) battery market.

According to data from the China Automotive Battery Innovation Alliance (CABIA), CATL's power battery installed capacity reached 15.54 GWh, securing the top spot with a 44.87 percent share. This marked a decrease of 10.29 percentage points from February's 55.16 percent share.

BYD followed closely with a power battery installed capacity of 9.28 GWh in March, capturing a 26.79 percent share, a notable increase of 9.04 percentage points from February's 17.75 percent share. BYD's surge in market share last month can be attributed to a resurgence in its sales of new energy vehicles (NEVs), which reached 302,459 units, a 147.29 percent increase from February's 122,311 units.

CALB secured the third position with a 6.66 percent share of the market, accounting for 2.31 GWh of installed power batteries in March, up 0.28 percentage points from February's 6.38 percent. Eve Energy ranked fourth in March with an installed capacity of 1.81 GWh, representing a 5.24 percent share.

In the LFP battery market, the top three players in terms of installed capacity in March were BYD, CATL, and Eve Energy, with market shares of 39.27 percent, 34.44 percent, and 7.07 percent, respectively.