Beyond supplying Chinese original equipment manufacturers expanding internationally, CATL has broadened its installation base by partnering with diverse global players such as Volkswagen and Audi, said the SNE Research"s report. Significant growth was observed across Europe and emerging markets (excluding the US), further bolstered by an increase in the average battery capacity of Chinese EVs. While maintaining its lithium-ion-centric portfolio, CATL is also advancing the commercialization of sodium-ion batteries to strengthen its competitiveness in next-generation battery technologies, SNE Research noted.

　　For BYD"s part, the report noted that leveraging its vertical integration (in-house production of both batteries and EVs), BYD is expanding its presence globally through superior price competitiveness across various vehicle segments. Additionally, to further enhance cost leadership, BYD is reportedly investing in sodium-ion battery production with an aim to establish a 30 GWh annual capacity.

　　The top three South Korean battery makers — LG Energy Solution, SK On, and Samsung SDI — saw a significant decline in their market shares. According to the SNE Research analysis, three major South Korean battery companies recorded a combined global market share of 25.5 percent in battery usage for EV in January. This marks a decline of 10.4 percentage points compared to the same period last year.

　　Specifically, LG Energy Solution saw a 16.2 percent (4.4 GWh) decline, SK On a 21.3 percent (2.3 GWh) drop, and Samsung SDI a 24.4 percent (1.6 GWh) decrease compared to the same period last year, with all three companies experiencing negative growth.

　　This downturn is primarily attributed to the sharp contraction in EV sales within the US market, which serves as a key stronghold for Korean battery makers, said the report.