Shulou(Shulou.com)11/24 Report--

According to foreign media reports, BYD replaced LG New Energy in July to become the second largest electric vehicle battery manufacturer in the world, second only to Ningde era.

According to the research institute, the number of batteries installed in electric vehicles worldwide was 39.7 GWh in July, an increase of 17.9GWh over 21.8GWh in the same period last year and an increase of 82.6 per cent year-on-year.

Of the 39.7 GWh batteries newly installed in July, Ningde Times supplied 13.3GWh; BYD was 6.4GWh, more than three times the 2.1GWh of the same period last year, up 205.6 per cent from a year earlier, and its market share soared from 9.7 per cent to 16.2 per cent.

LG New Energy, which was the second-largest supplier in June, supplied 4.4GWh batteries in July, up from 4.1GWh in the same period last year, up 5.9% from a year earlier, and its share fell from 19% to 11%.

According to the research institute's report, LG New Energy was replaced by BYD in July, mainly because of a sharp decline in their supply. They supplied 7.2GWh batteries in June, but declined in July, and BYD installed 5.1GWh batteries in June.

Although BYD installed more units than LG New Energy in July, there is still a gap in terms of installed capacity in the first seven months of this year.

According to the report of the research institute, in the first seven months of this year, the installed capacity of LG new energy electric vehicle battery is 34.3GWh, which is the second generation supplier after Ningde era, while BYD's installed capacity is 30.3GWh, which is the third largest manufacturer.

It is worth noting that with the substantial increase in production and sales of plug-in hybrid electric vehicles, the gap in battery installation between BYD and LG new energy electric vehicles is gradually narrowing. In the first half of this year, the gap between the two is 5.2GWh, which has narrowed to 4GWh after July.

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