Global EV Battery Installations Hit 244.6 GWh in Q1 2024; CATL Leads with 40.7% Market Share

In the first quarter of 2024, global new electric vehicle (EV) battery installations reached 244.6 GWh, an increase of 9.1% year-over-year, up from 224.2 GWh in the same period of 2023. CATL ranked first with 99.5 GWh of installed capacity, up 15.2% year-over-year, capturing a market share of 40.7%. BYD came second with 33.5 GWh, down 8% year-over-year, holding a market share of 13.7%. LG Energy Solution ranked third with 23.7 GWh, up 6.6% year-over-year, though its market share slightly declined from 9.9% to 9.7%. SVOLT and Gotion High-Tech followed in fourth and fifth places with 11.6 GWh and 10.2 GWh respectively, posting year-over-year growth rates of 31.7% and 26.3%.