The Dominator
CATL takes nearly half the market again.
Data from Kerui for April 226 paints a clear picture. The landscape in China is stable, yes, but also brutally concentrated. CATL sits at the top with 47% of the share. FinDreams is second. CALB is third. There’s not much wiggle room.
Volume for the leader hit 28,692 MWh. That is a 30.2% jump from last year.
Their customer list looks like a who’s-who of current EV stars. Geely, Changan, Xiami, Li Auto, Nio. Geely took 9.5% of that volume, Changan grabbed 8.9%, and Xiami pulled in 8.5%.
It is hard to ignore their reach.
BYD’s Ecosystem
FinDreams sits at number two, but the path there is different.
Installation volume came in at 11,33 MWh. An 8.3% share. Down 3.2% year-over-year, a slight dip. Most of this goes straight to the parent company, BYD, accounting for 58% of all supplies. It is a closed loop for the most part.
They do supply others though. Xiaomi gets 7.5%. Fang Cheng Bao sees 7%. XPeng takes 5.3%. Denza gets 5.1%.
But really? It is still a BYD company first.
The Contenders
Then the pack tightens up.
CALB, Gotion High-Tech, and EVE Energy round out the top five.
Look at the numbers.
– CALB: 5,998 MWh (up 50.1% YoY)
– Gotion: 3,75 MWh (up 25.2% YoY)
– EVE Energy: 50 MWh (up 7.2% YoY)
The growth there is sharp. Fast. The top three are stagnant or declining in relative strength. The others are pushing hard.
The Middle Tier
Repr Battero, Znergy, Svolt, Sunoda, and Geely’s own Energee fill slots six through ten. Their shares hover between 1.5% an 3.1%. Small slices.
Energee is interesting in one way: dependency.
91.1% goes to Geely.
You cannot build independence on the back of your own manufacturer.
Xiaomi is the biggest external customer for FinDreams. Leapmotor? They are the primary client for Gotion, Znergy, and Svolt.
One strange note though.
Leapmotor uses CATL batteries for high-end models like the D9. And the upcoming D99. Yet CATL doesn’t see them as a major client. Probably volume. The big D19 sales haven’t tipped the scale enough.
There’s one oddity worth pointing out.
Svlt is owned by Great Wall Motor. Logically, GWM should buy from them. But Great Wall Motor is not the largest customer of Svolt. The logic breaks there.
Markets move fast. The rankings shift slightly each month.
Who moves up next?
Nobody really knows yet.
