起点锂电·2025-07-05 10:10Core Viewpoint - The electric vehicle market continues to grow strongly despite global economic uncertainties, with a 28% year-on-year increase in global electric vehicle sales from January to May 2025, leading to a rise in battery installation volume and benefiting Chinese battery companies significantly [2][4]. Group 1: Market Performance - In the first five months of 2025, six Chinese battery companies, including CATL, BYD, and others, achieved a market share of 68.4%, nearing 70% [4][3]. - BYD showed the most significant growth in market share, increasing by 2% compared to the same period last year, while four major Japanese and Korean companies saw a decline in their market shares, with LGES experiencing the largest drop of 2.1% [4][6]. Group 2: Regional Insights - In Europe, Korean battery companies' market share fell to 35.6%, a significant decrease of 15.4 percentage points year-on-year, while Chinese companies' market share rose to 56.3% [6][7]. - Despite a 20.5% year-on-year increase in European electric vehicle sales, the growth benefits were predominantly captured by Chinese battery companies [7]. Group 3: Company Strategies - Chinese battery companies like CATL and others are actively investing in factories in Europe to expand their market presence. For instance, CATL's battery installation capacity in China reached 26.2 GWh in May, a 39% year-on-year increase, with a domestic market share of 42% [8][9]. - CATL's major clients include Xiaomi, Tesla, and Geely, with Xiaomi's new SUV model YU7 expected to significantly boost CATL's installation volume [8]. Group 4: Competitive Landscape - Korean battery manufacturers are focusing on the North American market due to previous incentives, but recent policy changes under the Trump administration are impacting their investment strategies and market competitiveness [9][10]. - LG Energy Solutions plans to cut capital expenditures by up to 30% due to changing market conditions, indicating a slowdown in growth [10].