Five Chinese companies make into the top ten of the world’s electric car battery maker list in 2021, with CATL(宁德时代) as the biggest for the consecutive fifth year, according to Korea’s SNE Research’s report.

The Korean market research company’s report shows that CATL, based in Ningde of Chinna’s southeastern Fujian Province, achieved a 32.6% share of the global lithium-ion car battery market in 2021 with an installed capacity of 96.7 gigawatt-hours.

Shenzhen-based BYD(比亚迪) ranked fourth with an installed capacity of 26.3 GWh, gaining an 8.8% market share. CATL and BYD had their capacity up by more than two and a half times.

Also making it into the top ten are China Aviation Lithium Battery Technology(No.7中航锂电), Gotion High-Tech(No.8国轩高科) and Svolt Energy Technology(No.10蜂巢能源), whose sales surging more than five-fold in 2021, the fastest growth.

The success of the Chinese companies was attributed to the rapid growth of domestic new energy vehicles sales.

South Korea’s LG Energy Solution ranked second with a 20.3% market share and an installed capacity of 60.2 GWh. Japan’s Panasonic is third with an installed capacity of 36.1 GWh and a market share of 12.2%.

SNE said that global installations of EV batteries doubled in 2021 from the year before to 296.8 GWh. Global EV battery needs are expected to reach 406 GWh by 2023, yet production capacity will only be at 335 GWh.