CATL and BYD are exploring the expanding market for stationary energy storage solutions in China.
Since 2021, CATL leads global battery deliveries for energy storage, holding over 40% market share.
Among its major clients are state-owned power companies like Huaneng, and leading energy storage system manufacturers such as Sungrow Power Supply.
In 2023, CATL’s storage deliveries surged by 46.8% to 69 GWh, surpassing its 32.6% growth in EV batteries.
CATL’s energy storage battery sales rose to 17.6% from 12.5% in 2021, indicating significant growth.
CATL will additionally provide battery cells and packs for Tesla’s Megapack plant in Shanghai, set to export starting 2025.
Official media reported that Tesla’s Shanghai plant will produce 10,000 Megapacks annually, totaling 40 GWh in storage capacity.
BYD’s energy storage battery deliveries surged by 57% in 2023, surpassing its 15.6% growth in EV battery shipments, reports SNE Research.
In contrast, BYD shipped 135 GWh of EV batteries last year.
Additionally, smaller players EVE, REPT, and HITHIUM experienced over 100% growth in battery sales, capturing 11%, 8%, and 7% of the global 185 GWh market.
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