The global electric vehicle market grew by 63% in the first half of 2022

Nearly 4.3 million electric vehicles, buses, and trucks were sold worldwide in the first six months of this year, up 63 percent from the same period last year, according to analysts at Korea-based SNE Research. Of this number, 4.1 million accounted for cars. In addition, about 50,000 electric buses and 100,000 electric trucks were sold.

The market leader is BYD, followed by Tesla and SAIC. The top ten largest manufacturers of electric vehicles, including plug-in hybrids (PHEVs), are three Chinese and three German companies: VW in fourth place, BMW in ninth, and Daimler in tenth.

SNE Research also provides data on sales of batteries for electric vehicles. The leader is CATL. In the first half of 2022, this Chinese company sold batteries with a total capacity of 69-gigawatt hours (GWh). This corresponds to a global market share of 31%. For comparison, CATL sold 52.8 GWh in all of 2020. Estimate the growth rate.

CATL sales are up 111% in the first six months compared to the same period last year. In second place is LGES with 14 percent market share, followed by BYD and Panasonic with 12 and 10 percent market shares.

Looking at the global battery market excluding sales in China, LGES leads with a 26% share. It is followed by Panasonic with 20% and CATL with 16%. However, CATL is rapidly growing sales outside of China, much faster than LGES and Panasonic.

I would like to thank Dan Kreibich and the rest of the SQUAKE team for the help.