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CATL has Surpassed BYD in Terms of Electric Vehicle Equipped with Lithium Iron Phosphate Batteries

Latest updated: Dec 13, 2023

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For the seventh consecutive month, Contemporary Amperex Technology(CATL)surpassed BYD in terms of deployment of lithium iron phosphate batteries.


According to the latest data released by the China Automotive Power Battery Innovation Alliance on December 11th, CATL’s domestic deployment of power batteries reached 19.7 GWh in November, with a market share of 43.91%, firmly holding the top spot.


Meanwhile, BYD’s deployment of power batteries in November was 10.2 GWh, with a market share of 22.73%, reaching a new low for the year.

In terms of technological approaches, CATL’s deployment of ternary batteries in November reached 9.07 GWh, accounting for nearly 60% of the domestic market, while its deployment of lithium iron phosphate batteries was 10.63 GWh, with a market share of 36.52%.


BYD’s power battery deployment in November still relied entirely on lithium iron phosphate batteries, with its market share in this area at 34.99%, being surpassed by CATL.


Previously, BYD had maintained the top position in this field for seven consecutive months. As a result, BYD still leads by more than 7 percentage points in cumulative market share of lithium iron phosphate batteries for the first 11 months, with a market share of 41.11%.


Lithium iron phosphate and ternary batteries are the two mainstream routes of power batteries in China. From 2018 to 2020, the deployment of lithium iron phosphate batteries in China remained lower than that of ternary batteries. However, with the help of innovative technologies, the advantages of lithium iron phosphate batteries in terms of safety and cost have become more prominent. In July 2021, the market share of lithium iron phosphate batteries surpassed that of ternary batteries and has maintained its leading position since then.


In November this year, the domestic deployment of power batteries reached 44.9 GWh. Among them, the deployment of lithium iron phosphate batteries was 29.1 GWh, accounting for 64.9% of the total deployment, while the deployment of ternary batteries reached 15.7 GWh, accounting for 35% of the total deployment. China’s Contemporary Amperex Technology Co., Ltd. ranked third with a deployment of power batteries at 3.24 GWh, with a market share of 7.21%, which is 2.46% lower than the previous month and also a new low for the year.


Guoxuan High-Tech and EVE Energy ranked fourth and fifth with a battery deployment of 2.11 GWh and 2.05 GWh, respectively. EVE Energy’s market share was 4.56%, while Guoxuan High-Tech’s market share reached 4.7%, a new high for the year.


LG Energy Solution, Pulead Technology Industry, Funeng Technology, Xinwanda Group, and EVE Energy ranked sixth to tenth, with market shares of over 2% for the top nine companies. In November, the domestic sales of energy storage batteries reached 16 GWh, an increase of 15.1% compared to the previous month. The top three companies in terms of sales volume were CATL, BYD, and EVE Energy.


In terms of exports, the total export of power and energy storage batteries in China in the previous month reached 17.9 GWh, with power battery exports accounting for 13 GWh, or 72.6%, and energy storage battery exports accounting for 4.9 GWh, or 27.4%, representing a 6.3-percentage-point increase compared to the previous month.

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In terms of export of power and energy storage batteries in November, CATL held an absolute advantage and took the first place, followed by BYD and Funeng Technology.




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