Global xEV battery market doubles

The global xEV battery market (BEV, PHEV and HEV) is currently doubling year-on-year with a staggering performance. In September 2021, all newly sold passenger electric vehicles used 31,7 GWh of energy stored in batteries on the road, according to the consultancy Adamas Intelligence. This is 105% more than the same period last year and 19% higher than in July 2021 - the previous record was set this month.




According to preliminary data, for the entire third quarter of 2021, about 75,2 GWh of battery electricity was used in xEV passenger vehicles. Since the beginning of the year, this number has been 184,1 GWh. This is almost double the 2019 total of 96,8 GWh and 37% higher than the 2020 figure.

Since the fourth quarter is typically the strongest period for electric vehicle sales, cars, it could lead to a new record of 100 GWh in three months. In total, we are expected to see around 260-300 GWh of battery energy installed in passenger xEVs this year.

Battery capacity is increasing faster than sales of electric cars. This is due to the fact that in addition to the increase in the number of battery packs, there is also an increase in the average capacity of the battery. Today, the leaders in the production of batteries for electric vehicles include:

• ✅ CATL - 11,1 GWh (about 35% of the market)
  
• ✅ LG Energy Solution - 6,1 GWh (19%)
  
• ✅ Panasonic - 4,6 GWh (15%)
  

Smaller shares are distributed among such enterprises as BYD, SK Innovation, Samsung SDI, CALB, Gotion High-Tech Co. (Guoxuan) and Envision AESC. It is noteworthy that the largest part of the batteries from CATL companies (about 37% of the total) and LG Energy Solution (25% of all products) goes to the production of Tesla electric vehicles, namely the Model 3 and Model Y models manufactured in China.



It can be concluded that both CATL and LG Energy Solution are following the same path as Panasonic previously, which relies heavily on Tesla. The automaker was responsible for almost 90% of Panasonic’s total xEV battery deployment in 2020. Other brands are catching up as the market clearly shows a trend towards electrification of the automotive sector. Transport, so new records in this area are just around the corner.