Chart of the Day: China’s CATL Closes In on Top Overseas Competitor

In the first eight months of this year, China’s Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SH) closed most of the gap with the top supplier of electric vehicle (EV) batteries in markets outside China, South Korea’s LG Energy Solution Ltd.

Fujian province-based CATL’s batteries leapt to a 27.7% of installed capacity in non-China markets over the period from a 20.8% share in the same period in 2022. That narrowed the lead of the market’s top supplier, LG Energy Solution, whose share inched up to 28.5%, according to a report published Friday by Seoul-based consultancy SNE Research.