LG New Energy overtook BYD to become the world second largest EV battery manufacturer over the first three quarters, but BYD led LG in installations in the third quarter. CATL still holds the top spot. The global penetration rate of new energy vehicles exceeded 15% and reached 17%. The top two new energy enterprises, Tesla and BYD, accounted for nearly 40% of the global market.

According to the global installed power battery data in September, LG New Energy overtook BYD to regain the second place in the world installed capacity. Based on the capacity improvement of Tesla's factory in Shanghai and the successful climb of its factory in Germany, LG New Energy's installed capacity in September was 8.8Gwh, surpassing BYD's 7.3Gwh, achieving a year-on-year growth of 39.2%, and its global market share exceeded 15%. According to the data from January to September, LG New Energy ranks second with 48.1Gwh installed capacity, while BYD ranks third with 43.6Gwh installed capacity, less than 5Gwh behind. In addition, it is worth noting that Ningde Times still maintains a global market share of more than 35%, ranking the first place in the world. Overall, in September, the global market share of Chinese battery factories was more than 60%, and that of Korean battery factories was 25.5%. Compared with 2021, the market share of Chinese-funded battery factories further increased, while the market share of Korean-funded battery factories declined slightly.