Contemporary Amperex Technology Co Ltd. (CATL), China’s largest battery supplier, was listed No 1 in installed capacity of batteries globally last year, according to a new report by South Korea’s SNE Research. Shenzhen-listed CATL’s capacity reached 96.7 gigawatt-hours, surging 167% year-on-year. Its global market share reached 32.6%, which ranked first worldwide, up from 24.6% in 2020, SNE said. The company's total market value stands at CNY1.26 trillion, which makes it one of the leading Chinese A-share companies in terms of market value. CATL has established five overseas branches in South Korea, Japan, Germany, the United States and France. CATL and South Korean battery maker SK On will provide the third batch of lithium-ion battery cells for Hyundai’s electric vehicles to be launched after 2023. CATL expects to achieve a 2021 net profit of between CNY14 billion and CNY16.5 billion, up 150.75% to 195.52% year-on-year, and the number is likely to hit a record high since the company went public in 2018.
In the past few years, China’s new energy vehicle sales have increased rapidly. In 2021, more than 3.52 million electric cars and plug-in hybrids were sold in the country, the fastest growth since 2016, according to the Ministry of Industry and Information Technology (MIIT). By the end of last year, China had built 75,000 charging stations, 2.617 million charging piles and 1,298 battery-swap stations. The Ministry started the promotion of battery-swap businesses for NEVs in October, and 11 cities such as Beijing, Nanjing, Wuhan and Hefei were listed among the first batch of trial cities.
In January, the National Development and Reform Commission (NDRC) released an implementation plan for promoting green consumption, and said the country would vigorously support green transportation and gradually lift restrictions on the purchase of NEVs. “The Ministry of Commerce will continue to encourage consumers to purchase NEVs, urge the withdrawal of high-emission vehicles from the market and promote green development of the automobile industry chain,” said Wang Bin, an official with the Ministry of Commerce (MOFCOM). Fueled by the fast growth of NEVs in China, Chinese battery makers have seen their global market share gradually increase. In addition to CATL, Chinese companies BYD, China Lithium Battery Technology Co, Gotion High-tech and Envision AESC were listed among the top 10 battery makers with the highest global power battery installed capacities last year, the China Daily reports.
