Chinese companies take top spots in battery installation

Chinese companies accounted for six of the top 10 battery makers globally in terms of installation last year, with Contemporary Amperex Technology Co Ltd ranked top again with a market share of 37 percent, according to a report from market consultancy SNE Research.

According to the report, Chinese EV maker BYD reached the same battery installation level as South Korea's LG Energy Solution with a market share of 13.6 percent. China's CALB, Gotion, Sunwoda and Farasis were also among the top 10.

The growth of Chinese battery firms is showing momentum, as their total battery installation made up less than 50 percent of the global market in 2021.

Globally, the total usage of electric vehicle batteries hit 517.9 gigawatt hours, or GWh, last year, which increased 71.8 percent year-on-year, a significant change.