LG New Energy Overtakes BYD as World’s Second-Largest EV Battery Maker, SNE Research Reports

LG New Energy surpasses BYD in global EV battery market share, securing the second spot with a 13.7% share, while CATL leads at 38.4%.

In a recent update from SNE Research, LG New Energy has secured its position as the world’s second-largest electric vehicle (EV) battery manufacturer, surpassing BYD.

This achievement comes as LG New Energy recorded sales of 12.7 gigawatt-hours in EV batteries during the first two months of the year, capturing a global market share of 13.7%.

Despite a slight dip in the market share of South Korea’s top three battery companies, the overall battery consumption for EVs, including pure electric, plug-in hybrids, and hybrid vehicles, surged to 92.4 GWh, marking a 27% increase year-over-year.

Meanwhile, CATL continues to dominate the market with a 38.4% share, while BYD has been nudged to the third position, holding a 13.1% market share.

Keep visiting for more such awesome posts, internet tips, lifestyle tips, and remember we cover,
“Everything under the Sun!”

Inspire2Rise Logo Org

Follow Inspire2rise on Twitter. | Follow Inspire2rise on Facebook. | Follow Inspire2rise on YouTube.

A passionate Post Graduate Teacher with knowledge on wide variety of topics.


Learn more about  Huawei EMUI 10.1 improves upon the Seamless AI Life experience!
LG New Energy Overtakes BYD as World’s Second-Largest EV Battery Maker, SNE Research Reports

Leave a Comment

Discover more from Inspire2Rise

Subscribe now to keep reading and get access to the full archive.

Continue reading