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Interface News reporter | Gao Jing

BYD's (002594.SZ) power battery market share declined in July.

On August 9, the China Automotive Power Battery Industry Innovation Alliance released statistics showing that in July this year, CATL (300750.SZ) had installed 19.42 GWh of domestic power batteries, ranking first, twice that of the second-place BYD. Its market share increased by 2.24 percentage points from June to 47.3%, a record high since March.

BYD's power battery installations in July were 9.37 GWh, with a market share of 22.83%, down 2.49 percentage points from the previous month and a five-month low. This is the second consecutive month that BYD's market share has declined.

In July, the gap between BYD's market share and CATL's market share widened to 24.47 percentage points. Last year, the gap between BYD and CATL's market share narrowed to 15.9 percentage points.

Unlike CATL, which supplies power batteries to automobile manufacturers, BYD's power batteries are mainly supplied to its own new energy vehicles.

According to statistics from Gaogong Industry Research Institute, last year, the installed capacity of power batteries for self-supply accounted for about 94.8%. BYD is also continuously promoting the external supply of power batteries, and its domestic customers include China FAW, FAW Toyota, Changan Automobile, Xiaomi Automobile and many others.

Zhongxinhang (03931.HK) still ranked third in China in terms of power battery installation in July, with an installation volume of 2.94 GWh and a market share of 7.16%, a slight decrease of 0.16 percentage points from the previous month. Last year, Zhongxinhang's market share was 8.49%.

Guoxuan High-tech (002074.SZ) installed 1.73 GWh of power batteries last month, with a market share of 4.21%, up 0.75 percentage points from the previous month. After five months, the company once again ranked fourth on the list.

Yiwei Lithium Energy (300014.SZ) and Xinwangda (300207.SZ) ranked fifth and sixth respectively in July. Among them, Yiwei Lithium Energy's market share was 3.73%, a slight decrease of 0.25 percentage points from the previous month; Xinwangda's market share was 3.29%, a slight increase of 0.22 percentage points from the previous month.

In July this year, the companies ranked seventh to tenth in terms of installed capacity were Honeycomb Energy, Zhengli New Energy, Ruipu Lanjun (00666.HK) and LG Energy Solution. Except for Honeycomb Energy, the market shares of other companies were all less than 2%.

Zhengli New Energy submitted an application for listing on the Hong Kong Stock Exchange's main board last month. The power and energy storage battery manufacturer was established in 2019 and had not yet achieved profitability as of the first quarter of this year.

In July, the domestic power battery installed capacity was 41.6 GWh, a year-on-year increase of 29%. Among them, the installed capacity of lithium iron phosphate batteries was 30.1 GWh, a year-on-year increase of 39.2%, accounting forFinal AssemblyThe installed capacity of ternary batteries was 11.4 GWh, a year-on-year increase of 7.5%.

Lithium iron phosphate and ternary batteries are the two mainstream routes for domestic power batteries. With the help of innovative technologies, the advantages of lithium iron phosphate in terms of safety and cost have become increasingly prominent. In July 2021, the market share of lithium iron phosphate batteries surpassed that of ternary batteries, and has maintained its lead since then.

In the field of lithium iron phosphate batteries, CATL occupied 38.94% of the market share in July, ranking first in the field. BYD ranked second with a market share of 30.94%.

Last year, BYD ranked first in China in terms of installed capacity of lithium iron phosphate batteries, with a market share about seven percentage points higher than that of the second-ranked CATL.

In the field of ternary batteries, CATL occupied 70.88% of the domestic market share in July, ranking first in the field with an absolute advantage. Zhongxinhang ranked second with a market share of 6.55%.

In terms of exports, in July, domestic power and other battery exports totaled 15.6 GWh, a year-on-year increase of 28.9%.

Among them, the export volume of power batteries was 9.6 GWh, down 13.1% year-on-year, accounting for 61.5% of the total export volume, and the proportion decreased by 10 percentage points month-on-month; the export volume of other batteries was 6 GWh, up 471.6% year-on-year, accounting for 38.5% of the total export volume. Other batteries mainly refer to energy storage batteries, including a small number of small power batteries.

The top three companies in power battery exports are CATL, BYD and Guoxuan High-tech. Among them, Guoxuan High-tech's monthly export growth rate reached 267.8%.

In July, domestic semi-solid-state batteries were installed on vehicles with an installed capacity of 523.5 MWh, and supporting companies included Weilan New Energy and others.