Chinese battery manufacturers CATL and BYD retained their positions as the world’s top two electric vehicle (EV) battery suppliers in January, as global demand for EV batteries surged, according to data from SNE Research.
Total global EV battery installations reached 64.3 gigawatt-hours (GWh) in January, marking a 25.7% increase from 51.2 GWh in the same month last year. CATL led the market with 25.0 GWh of battery installations, up 25% year-on-year, securing a 38.9% global market share.
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Despite a slight drop from 39.1% in January 2024, CATL remained the only supplier with a share exceeding 30%. The company supplies batteries to major domestic automakers such as Zeekr, Aito, Li Auto, and Xiaomi, as well as international brands including Tesla, BMW, Mercedes-Benz, and Volkswagen.
BYD, which manufactures both EVs and batteries, reported 10.9 GWh of battery installations in January, a 42.6% year-on-year increase. The company ranked second with a 16.9% market share, up from 14.9% a year ago but slightly lower than its 17.2% full-year share in 2024. SNE Research attributed BYD’s market gains to its cost-competitive models, which have driven strong demand.
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LG Energy Solution ranked third with 6.0 GWh of battery shipments, up 10.1% from January 2024. The South Korean firm held a 9.3% market share, down from 10.7% a year earlier. Other top suppliers included SK On (4.5% share), Panasonic (3.8%), and China’s CALB (3.8%). Gotion High-Tech, Samsung SDI, Svolt Energy, and Eve Energy rounded out the top ten, with market shares ranging from 3.4% to 2.1%.