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CATL, BYD gain EV battery share outside China as Korean rivals lose ground

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CATL, BYD gain EV battery share outside China as Korean rivals lose ground

CATL (HKEX: 3750) and BYD (HKEX: 1211) continued to gain share in the EV battery market outside China in the first 9 months of 2026, while South Korea's 3 major suppliers were weighed down by weak North American demand.

Battery usage outside China reached 426.7 GWh during the period, up 24.7% year-on-year, according to data released Wednesday by South Korean research firm SNE Research.

That outpaced global growth of 19.7%, as rising demand in Europe and Asia offset weakness in North America. The figures cover battery electric vehicles, plug-in hybrids and hybrids.

The 6 Chinese companies in the top 10 increased their combined market share to 56.4% from 43.1% a year earlier, with CATL and BYD together accounting for 44.5%.

CATL remained first with 143.7 GWh, up 46.7% year-on-year, as its market share rose to 33.7% from 28.6%.

Its battery usage in Europe grew 35.4% to 96.8 GWh, while usage in Asia excluding China more than doubled to 27.1 GWh.

CATL's Debrecen plant in Hungary began trial production on its first 2 production lines on September 22, a move SNE Research expects to strengthen its local supply capabilities for European customers.

BYD held third place with 45.9 GWh, up 66.8% year-on-year, as its market share increased to 10.8% from 8.0%.

BYD's batteries are mainly installed in its own vehicles. Its battery usage grew 68.8% in Europe, 41.0% in Asia and 135.7% in South America.

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