Tesla Inc. (NASDAQ:TSLA) battery supplier Contemporary Amperex Technologies Ltd. (CATL), rival BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) continue to dominate the global EV battery market in 2025.
Global Battery Installations Grew 34.9%
The amount of global battery installations from January to August clocked in at 691.3 GWh, marking a 34.9% YoY increase, according to the latest data released by South Korean market research firm SNE Research on Monday.
“CATL firmly remained top in the ranking of global battery usage, posting a 31.9%(254.5GWh) YoY growth,” the firm said in the report, adding that BYD maintained its place in second with a “50.3%(124.8GWh) growth rate.”
CATL currently has a deal in place with General Motors Co. (NYSE:GM) to supply the company with LFP batteries powering GM’s most affordable EV, the Chevrolet Bolt EV, until 2027.
LG Energy Solutions Ranks Third
Meanwhile, South Korea’s LG Energy Solutions was ranked in third place, growing 13.3% with 67.4 GWh of battery installations, helping the company capture 9.7% of the global market. The company recently signed a deal worth $4.3 billion to supply Tesla with LFP batteries for its energy storage units.
SK On, another South Korean manufacturer, ranked fifth with a 4.2% market share. It accounted for 29.2 GWh worth of battery installations and grew 20.3%. SK On currently has a partnership with Ford Motor Co. (NYSE:F), manufacturing batteries at the BlueOval SK plant in Kentucky.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Read Next:
Photo courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
