South Korea's EV battery makers lose global market share [Yahoo! Finance]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Yahoo! Finance
to data released by local market research company SNE Research, reflecting slow EV growth in key markets such as Europe, North America, and even South Korea. SNE estimates that total batteries fitted to new battery electric vehicles (BEVs), plug-in hybrid vehicles (PHEVs), and hybrid electric vehicles (HEVs) sold globally increased by over 25% to 687 GWh in the ten-month period, with most of the growth coming from Chinese automakers. According to SNE's research, China's Contemporary Amperex Technology Company Limited (CATL) continued to lead the global EV battery market, with sales surging by over 28% to 253 GWh so far this year, as the company continued to benefit from strong growth in global sales of Chinese-made EVs. The company is estimated to have accounted for 37% of global EV battery sales year-to-date. SNE estimates that BYD, with its FinDreams Battery Company Ltd subsidiary, was the second-largest global supplier of EV batteries in this period, with deliveries rising by
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