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On January 20, Clean Technica, a leading authority on new energy technology in the United States, released its annual report on the world’s top 10 battery manufacturers for 2023. The report highlighted a 40% increase in demand for lithium-ion batteries in the light vehicle industry, rising from 507 GWh in 2022 to 712 GWh in 2023. Clean Technica suggests that changes in global market demand are reshaping the influence and competitive rankings of major battery manufacturers, and this trend is expected to persist through 2024.

According to the report, in 2023, the growth rate (+40%) of battery production for light electric vehicles (cars, SUVs, LCVs, and pickup trucks) outpaced the overall electric vehicle growth rate (+35%). This was attributed to the introduction of larger vehicle models equipped with more batteries.

CATL maintained its leading position, increasing its market share from 32% to 34% due to a growth rate slightly above the average.

By surpassing LG with a 59% year-on-year growth, the rapidly expanding BYD claimed the second position in the ranking. BYD is expected to continue increasing its market share in 2024.

LG experienced a slight decrease in market share in 2023, dropping from 17% in 2022 to 15% by the end of 2023. Clean Technica attributes this decline to lower-than-expected sales on the client side—General Motors’ electric vehicle market performance was lackluster, and some key models (such as the Renault Zoe) neared the end of their product lifecycle, while sales growth for other clients (such as Mercedes-Benz or Ford) slowed down.

Despite variations, the top three battery manufacturers still accounted for two-thirds (66%) of total battery deployments, indicating an increased concentration compared to 2022 (63%). This underscores the significance of scale in the dynamic battery market.

Source: WeChat Official Account—马里亚纳锂电

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