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According to the statistical data of SNEResearch, although LG Energy still ranked second in the top 10 list of global battery usage from January to August this year, its market share was 24.5%, 5.8 percentage points lower than that of CATL.

In addition, LG New Energy's installed capacity of global power batteries in May was 5.7GWh, a sharp increase of 3.7 times over the same period last year, surpassing the CATL and ranking first in the world. This is the third time that the CATL has been overtaken. Before the split of LG New Energy, the total installed capacity of LG New Energy exceeded that of CATL twice in the first quarter and July of 2020.

Who can secure the top spot in power batteries still needs time to prove. However, the CATL and LG Energy have not relaxed for a moment, and they are both seizing the time to expand their territory. In addition to the shortage of batteries this year, the power battery market has also seen many changes. The battery factory not only needs to invest in the upstream, but also needs to bind with the downstream. The battery industry has become increasingly competitive.

Two Strong Competitions: Financing and Expansion

After a series of data comparison, CATL and LG New Energy are in the first echelon of battery enterprises in terms of capacity and output.

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