CATL continues to lead the way, and the new energy vehicle lithium battery market shows strength again

Recently, Cui Dongshu, secretary-general of the Passenger Car Association, made an in-depth analysis of the new energy vehicle lithium battery market. He emphasized that by 2024, battery demand for pure electric passenger cars will increase by 15%, while battery demand for plug-in hybrid models has surged by 86%, and the market has shown continued strong growth. This trend shows consumers' increasing preference for new energy vehicles and also promotes the rapid development of the electric vehicle market. Cui Dongshu also mentioned that with the continuous advancement of technology and intensified market competition, the improvement of battery technology will become a key driving force for the development of new energy vehicles in the future. This point

#In the competition in the battery industry, Cui Dongshu emphasized the two companies CATL and BYD. He pointed out that although BYD also has a certain influence in the market, its market share is still far behind CATL. This highlights CATL’s leading position in the field of new energy vehicle lithium batteries.

According to the editor’s understanding, CATL has performed well in the power battery installation market share. In the past three years, the market share has risen to 50% again, and in February this year It reached a high of 55.2%, which is three times the market share of second-place BYD. In terms of lithium iron phosphate batteries, although CATL was surpassed by BYD last year, it successfully overtook it in February this year, with a market share of 45.3%, far exceeding BYD's 28.7%. In the field of ternary lithium batteries, CATL has an absolute advantage, with a market share as high as 71.4% in February this year.

In addition, the 2023 annual report recently released by CATL also showed that the company’s revenue reached 400.92 billion yuan, a year-on-year increase of 22.01 %, net profit was 44.121 billion yuan, a year-on-year increase of 43.58%. This achievement not only reflects CATL’s strong strength in the new energy vehicle lithium battery market, but also reflects the company’s outstanding capabilities in technology research and development, market expansion and other aspects. In the five years from 2019 to 2023, CATL’s revenue has increased 8.75 times. This growth rate is also quite rare in the technology and digital industry.

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