From January to July, $BYD Company ADR (BYDDY.US)$'s global share remained lower than LG Energy Solution, with the two at 12.6 percent and 14.2 percent respectively.
The continued growth of new energy vehicle (NEV) sales is also further consolidating BYD's position in the power battery market.
In July, BYD's installed power battery volume was 6.4 GWh and its market share reached 16.2 percent, surpassing LG Energy Solution's 11 percent and ranking second globally, according to a report released today by Seoul-based SNE Research.
In June, LG Energy Solution had a 16 percent share, higher than BYD's 11.2 percent.
CATL's installed power battery volume in July was 13.3 GWh, continuing to rank first in the world with a 33.5 percent share, the data show.
Japan's $PANASONIC CORP (PCRFY.US)$ ranked fourth with a 7.2 percent share, South Korea's SK On ranked fifth with a 6 percent share, and Samsung SDI ranked seventh with a 4.9 percent share.
China's CALB, Gotion High-tech, Sunwoda, and Svolt Energy ranked sixth, eighth, ninth, and 10th, respectively.
However, from January to July, BYD's global share remained lower than LG Energy Solution, with the two at 12.6 percent and 14.2 percent respectively.
CATL's share from January to July was 34.7 percent, continuing to rank first in the world.
China's CALB, Gotion High-tech, Sunwoda Electronic, and Svolt Energy ranked 7th-10th from January to July, respectively.
For BYD, as its power batteries are mainly supplied to itself, its battery installations grew along with its significant growth in NEV sales.
BYD sold 162,530 and 174,915 NEVs in July and August, respectively, with power and storage battery installations of 7.287 GWh and 7.553 GWh, respectively, as previously announced data shows.
BYD's battery capacity will be supplied mainly to the company itself in 2023, and from 2024 onwards, the proportion supplied to other car companies will be significantly larger, local media Yiche said on September 2, citing the company's chairman and president Wang Chuanfu in a recent conference call.
BYD currently has a backlog of 700,000 orders, and the current waiting time for consumers who place orders to get deliveries is 4-5 months, Wang said.