On January 18, Cui Dongshu, Secretary General of the Passenger Car Service Branch, said through his personal WeChat official account that the proportion of power battery output loaded in vehicles would rise to 50% from January to December 2024, including 50% of ternary batteries and 50% of lithium iron phosphate. The competitive landscape of battery companies has formed a relatively strong characteristic between CATL and BYD. At present, there is still a significant gap between BYD and CATL, with BYD’s share increasing from 15% in 2020 to 25% in 2024, and rising to 26% in the fourth quarter; However, the proportion of CATL in the fourth quarter decreased to 43%, and the proportion of other battery companies also showed a clear differentiation trend. Battery companies have formed a characteristic of slowing down the clustering effect of top enterprises. From the first two companies accounting for 72% in 2022, the proportion still remains at 70% this year, with nearly 30% space for other companies.
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