Top Battery Makers' Shares in China in May: CATL 46.14%, BYD 16.56%

Key Takeaways

• CATL held 46.1% market share, but slipped 0.5 pp in May.
• LG Energy Solution surged to 2.14% overall, 11.47% ternary share.
• LFP batteries dominate 81.2% of Chinese market, led by CATL and BYD.
• Total installations rose 15.2% month‑over‑month, 25.9% YoY to 71.9 GWh.
• Sunwoda posted biggest share gain among top‑10, up 0.68 pp.

Pulse Analysis

9 % jump year‑over‑year. 3 % versus 2025. 2 % of the mix, reflecting automakers’ preference for cost‑effective, long‑life cells as EV volumes surge domestically and abroad. 1 % of the market, yet its share slipped half a percentage point, hinting at modest erosion from emerging rivals.

6 % share, while Gotion and CALB held their positions in the top five. 5 pp, reclaiming the No. 2 slot and challenging CATL’s dominance in high‑energy cells.

These dynamics carry weight for investors and OEMs worldwide. LG Energy Solution’s resurgence signals renewed confidence in nickel‑cobalt‑manganese chemistries, potentially reshaping supply contracts for premium EV models. Meanwhile, Sunwoda’s incremental gains and the steady rise of domestic players underscore a diversifying competitive landscape that could temper CATL’s pricing power. As China’s battery output accelerates, global supply chains will feel the ripple, influencing raw‑material demand, pricing trends, and strategic partnerships through 2027.