On November 6, SNE Researc, an international research institute, released the latest data on global electric vehicle battery consumption from January to September 2024. Data show that from January to September, the total use of electric vehicle (EV, PHEV, HEV) batteries registered globally approached 600GWh, reaching 599GWh, an increase of 23.4% year-on-year.

Image credit: SNE

From January to September 2024, the top 10 enterprises in the global power battery loading capacity are: Ningde Times, BYD, LG New Energy, Zhongchuang New Aviation, SK On, Panasonic, Samsung SDI, Guoxun High-tech, Yiwei Lithium Energy, Xinwang Da.

Figure: VECO lithium finishing

As can be seen from the figure above, six Chinese enterprises (Ningde Times, BYD, Zhongchuang New Aviation, Guoxin High-tech, Billion Wei Lithium Energy, Xinwang Da) have a higher than average growth rate of 23.4%, in sharp contrast to the four overseas enterprises (LG New Energy, SK On, Panasonic, Samsung SDI) growth rate, are below the average.

From the ranking point of view, the most eye-catching is undoubtedly Zhongchuang Singapore Airlines, which exceeded South Korea's SK On ranked fourth, and the year-on-year growth rate was 27%, while SK On's year-on-year growth rate was only 12.4%. According to this trend, Zhongchuang Singapore Airlines will continue to widen the distance between it and SK On in the future.

Because BYD is mainly self-produced and self-marketed, therefore, from the perspective of third-party power battery supply, Zhongchuang Singapore Airlines has actually sat on the global power battery shipments TOP3.

In addition, it is Guoxuan Gaoke that surpassed Yiwei lithium energy ranking 8th.

In terms of South Korean companies, from January to September, LGES, SK On, and Samsung SDI all achieved growth, with a total load of 124.8GWh, but the market share was 20.8%, down 3.4 percentage points from the same period last year.

In terms of Japanese companies, Panasonic ranked sixth with 25.7GWh of battery loading, but among the top 10 companies in the global power battery loading from January to September, Panasonic was the only company with negative growth in vehicle loading, down 20.2% year-on-year, and its market share was 4.3%.