Caixin
May 13, 2022 06:01 AM
BUSINESS

CATL-BYD Battery Rivalry Altered by Covid and Surging Material Costs

CATL is the world’s biggest maker of lithium-ion batteries for electric vehicles, counting Tesla and Nio among its customers.
CATL is the world’s biggest maker of lithium-ion batteries for electric vehicles, counting Tesla and Nio among its customers.

Skyrocketing material costs and Covid-hampered demand from automakers have changed the competition between the two biggest electric-car battery makers, benefitting BYD and punishing Contemporary Amperex Technology Co. Ltd. (CATL).

CATL’s battery installation volume sank 53% in April from the previous month to 5.08 GWh. The world’s largest battery maker’s market share shrank to 38% last month from 52.1% in 2021. Long-time rival BYD’s market share climbed to 32.18% from 16.2% last year, data from China Industry Technology Innovation Strategic Alliance for Electric Vehicles showed.

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