Chinese companies remain firmly in control of the global electric vehicle battery market, with two companies accounting for more than half of the industry’s entire production last year.
Battery giant CATL and EV manufacturer BYD together had 53% of the total market in 2023, with Korean and Japanese brands following far behind.
CATL’s installed battery capacity last year surged by 41%, while BYD’s jumped by 58%. (CNEVPOST)
Eric Olander
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