A surge in China's electric vehicle sector has resulted in rapid developments for the country's battery manufacturers. SK On and SDI grew by 124% and 50%, respectively, while LGES and Panasonic saw their growth rate stagnate.
In terms of market share by battery makers, companies in the global top 10 have kept their market shares above 90%.
CATL increased its market share from 29% in H1 2021 to 34% in H1 2022, a significant 6%, while BYD grabbed up 12% in H1 2022. LGES and Panasonic, on the other hand, have seen their market shares decline over the previous year.
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