Korea’s largest battery makers LG Chem and Samsung SDI are losing market shares to competitors from China.
Panasonic is still the biggest producer of batteries. Panasonic’s market share has dropped from 31.4 percent to 21.1 percent in 2017.
In 2018, Panasonic is forecast to take 18% of shipments, while CATL’s share is projected at 17%, topping China’s one-time leader BYD, at 15%.
CATL is building a 24 GWh capacity factory by 2020. CATL plans to expand its production capacity to 88 GWh by 2020.
CATL is building its first plant outside of China in Thuringia, Germany. The 14 GWh plant will use automated and intelligent production of batteries. CATL will invest 240 million euros (about $282 million) to build Germany’s largest lithium battery production plant.