China’s lithium battery industry is seeing rapid growth amid sky-high demand from the electric car and renewable energy industries.
China has been the single largest consumer of lithium-ion (or li-ion) batteries for five consecutive years. It is also the world’s undisputed king of battery production, with China’s largest battery manufacturer Contemporary Amperex Technology Co. (CATL) alone holding around 35 percent of the global li-ion battery market in the first quarter of 2022. In the field of solar battery modules, Chinese companies hold around 71 percent global market share. The country’s booming new energy vehicle (NEV) industry and decarbonization-driven solar industry are contributing to China’s insatiable appetite for batteries.
In recent years, BYD has been pushing forward with its LFP Blade Battery, which drastically raises the bar for battery safety. With a new battery pack structure that optimizes space utilization.
Meanwhile, in June 2022 CATL launched its Qilin battery. Unlike the Battery Blade which aims to revolutionize safety standards, the Qilin battery differentiates itself more on energy density and charging times. CATL claims the battery can be charged to 80% within 10 minutes and can utilize 72% of battery energy for driving, both of which highlight tremendous growth in the technology behind these batteries.
Here are other famous lithium battery enterprises besides CATL and BYD: EVE, SVOLT,CALB, GOTION HIGH-TECH.
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