CATL Closes In On LG As World's #1 EV Battery Supplier; BYD Triples Global Market Share
Portfolio Pulse from Daniel Harrison
Chinese EV battery maker CATL is closing in on LG as the world's top EV battery supplier, with its market share increasing significantly. The company powers Tesla and NIO's product lines and expects to triple its profits in Q3. Despite having no international stock market presence, CATL is on track to become the largest global supplier of EV battery parts. The company has seen a 111% jump in battery supplies, mostly to Tesla, Nio, Mercedes-Benz, Volvo, and SAIC Motor Corp. CATL is also in talks with Hyundai and Kia for potential deals.
October 19, 2023 | 5:46 pm
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POSITIVE IMPACT
BYD's market share in the EV battery supply market has more than tripled, which could boost its revenues and profitability.
BYD's market share in the EV battery supply market has more than tripled, which could lead to increased revenues and profitability as demand for EV batteries continues to grow.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
NIO is another major customer of CATL, which is set to become the world's top EV battery supplier. This could ensure a steady supply of batteries for NIO's EV production.
As CATL is set to become the world's top EV battery supplier, this could ensure a steady supply of batteries for NIO's EV production, which is crucial for its operations and growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla is one of the main customers of CATL, which is set to become the world's top EV battery supplier. This could ensure a steady supply of batteries for Tesla's EV production.
As CATL is set to become the world's top EV battery supplier, this could ensure a steady supply of batteries for Tesla's EV production, which is crucial for its operations and growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ford halted construction of a plant where it planned to build EVs with CATL batteries, which could impact its EV production plans.
Ford's decision to halt the construction of a plant where it planned to build EVs with CATL batteries could impact its EV production plans and future growth in the EV market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60