LG Chem Becomes The #2 EV Battery Supplier In China

In first is CATL, while BYD fell to third place.

According to the latest reports from China, LG Chem significantly improved its position on the market (thanks to supplying the Made-in-China Tesla Model 3) and is now the #2 EV battery supplier.

CATL is still the top player, a lone leader, despite the fact that its sales went down so far this year to 6,178 MWh (compared to over 10 GWh in 2019).

During the first five months, LG Chem and BYD deployed respectively 2,087 MWh and 1,943 MWh of batteries. Because the difference is small, BYD still can fight back and return to second place.

New Energy Vehicle battery deployment In May (3.5 GWh total – down 38% year-over-year):

Plug-in passenger car battery deployment In May (2.81 GWh total, NCM stand for 75%):

A quick look at the latest table of battery deployment by foreign lithium-ion cell manufacturers reveal that LG Chem already supplied Tesla with almost 2 GWh batteries, compared to 83 MWh from Panasonic.

LG’s plant in Nanjing is poised for 32 GWh annually by 2023.

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