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The latest data shows that in October 2023, China’s installed capacity of power batteries reached 39.2GWh, representing a year-on-year growth of 28.3% and a month-on-month increase of 7.6%.

From January to October 2023, the cumulative installed capacity of power batteries in China reached 294.9 GWh, marking a year-on-year growth of 31.5%. 48 companies have achieved installation compatibility.

Breaking down the specific enterprises, there have been no significant changes in the rankings of leading and second-tier companies compared to that in September. CATL and BYD continue to hold the top two positions.

CATL achieved a month-on-month double-digit growth in installed capacity and market share. The installed capacity reached 16.79 GWh, and the market share returned to over 40%.

It is worth mentioning that LGES, the only South Korean company on the list, dropped from the 6th position in September to the 11th, with a significant decrease of about 70% in market share.

Although LGES’s market is mainly concentrated overseas, it faces significant competitive pressure both in China and international markets.

Source: WeChat Official Account—电池工业网

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