<2025> Competitiveness Analysis Report on Leading Chinese Battery Manufacturers (CATL, BYD)
Over the
past decade, the global battery industry has been reshaped at an unprecedented
pace, with the rapid rise of Chinese companies at the center of this
transformation.
The
market, once led by Korea and Japan, has now shifted toward Chinese companies
led by CATL and BYD, which are taking the initiative across all aspects
including technology, scale, pricing, and supply chains.
This
report analyzes the background and structural strengths behind the growth of
China’s battery industry, provides an in-depth examination of the strategies,
technologies, and supply chains of leading companies such as CATL and BYD, and
compares the competitive landscape with the Korean battery industry.
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The
competitiveness of China’s battery industry is derived more from its
“structure” than from its “technology.”
Strong
policy support from the government, a large domestic market centered on
internal demand, and a vertically integrated supply chain spanning from raw
material procurement to recycling have been decisive factors enabling CATL and
BYD to rise to the top of the global market in a short period of time.
In
particular, CATL demonstrates a unique competitive advantage in the speed of
technology commercialization and supply chain control. By commercializing
innovative technologies—from CTP (Cell-to-Pack) to Qilin and Shenxing—at the
fastest pace globally, and by directly securing key minerals such as lithium,
nickel, and cobalt while establishing recycling systems, CATL has strengthened
cost stability. In addition, the expansion of overseas production bases reduces
geopolitical risks and logistics costs while broadening its global network.
BYD,
meanwhile, has built its competitiveness through a different approach. As the
world’s only company that simultaneously owns both vehicle manufacturing and
battery production, BYD has established an end-to-end value chain that enables
integrated battery development from the vehicle design stage. Its LFP-based
technology, centered on the Blade Battery, offers decisive advantages in safety
and cost, while its in-house vehicle brand (BYD Auto) allows it to dominate the
domestic market. Furthermore, through a subsidiary-driven structure including
FinDreams Battery, BYD has achieved self-sufficiency across materials, cells,
modules, and vehicles, minimizing global supply chain risks and maximizing
CAPEX efficiency.
Meanwhile,
the Korean Top 3 suppliers continue to maintain advantages in high energy
density technologies and quality reliability; however, the gap is rapidly
narrowing in areas where Chinese companies demonstrate strengths, such as
production speed, cost competitiveness, and supply chain integration
capabilities.
While
Korea has pursued a technology-centered strategy, China has adopted a
market-speed–centered strategy.
CATL and
BYD have already built vast industrial ecosystems encompassing OEMs, material
suppliers, policy institutions, and consumers, and this structural strength has
become a barrier to entry that Korean and Japanese battery companies find
difficult to overcome in the short term.
For
Korean companies to compete with them, they must go beyond simple technological
superiority to secure cost efficiency, market responsiveness, and supply chain
resilience, along with sustained support from national policies.
<Share of Chinese Companies in Top 10 Battery Shipments>
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Contents
Introduction
- Competitive Advantages of the Chinese Battery Industry
1. Expansion of Domestic EV Demand p9
2. Government Support and Industrial Development p10
3. Technological Competitiveness P21
4. Price Competitiveness P23
5. Raw Material Supply Chain Securing P24
1.
CATL (宁德时代)
1.1 Company Overview P31
1.1.1 Corporate History and Founding Background
1.1.2 Key Management and Organizational Structure
1.1.3 Shareholding Structure
1.1.4 Business Areas
1.1.5 Major Subsidiaries
1.2 Financial Analysis P39
1.2.1 Revenue and Operating Profit Trends
1.2.2 Recent Quarterly Performance
1.2.3 Financial Statements and Cost Structure Analysis
1.2.4 Revenue and Share by Business Segment
1.2.5 Revenue and Share by Region
1.2.6 Government Subsidy Trends
1.2.7 Profitability Outlook
1.3 Technology Competitiveness Analysis P51
1.3.1 Technology Roadmap
1.3.2 Core Products and Technologies
1.3.3 R&D Investment Status and Research Workforce
Composition
1.3.4 CATL Battery Core Patents
1.4 Production and Supply Chain Strategy P142
1.4.1 Global Manufacturing Bases
1.4.2 CAPA Trends and Expansion Plans
1.4.3 Supply Chain Management (SCM) Structure
1.5 Market Position and Performance P182
1.5.1 Annual Market Share Trends
1.5.2 Installed Capacity Trends
1.6 Business Strategy and Partnerships P186
1.6.1 Vertical Integration
1.6.2 OEM Alliances and Cooperation Status
Summary of CATL’s Core Competitiveness P188
2.
BYD (比亚迪)
2.1 Company Overview P191
2.1.1 Corporate History and Founding Background
2.1.2 Key Management and Organizational Structure
2.1.3 Shareholding Structure
2.1.4 Business Areas and Revenue Structure
2.1.5 Major Subsidiaries
2.2 Financial Analysis P200
2.2.1 Revenue and Operating Profit Trends
2.2.2 Recent Quarterly Performance
2.2.3 Financial Statements and Cost Structure Analysis
2.2.4 Revenue and Share by Business Segment
2.2.5 Revenue and Share by Region
2.2.6 Government Subsidy Trends
2.3 Technology Competitiveness Analysis P211
2.3.1 Technology Roadmap
2.3.2 Core Products and Technologies
2.3.3 R&D Investment Status and Research Workforce
Composition
2.3.4 BYD Battery Core Patents
2.4 Production and Supply Chain Strategy P278
2.4.1 Global Manufacturing Bases
2.4.2 CAPA Trends and Expansion Plans
2.4.3 Supply Chain Management (SCM) Structure
2.5 Market Position and Performance P313
2.5.1 Annual Market Share Trends
2.5.2 Installed Capacity Trends
2.6 Business Strategy and Partnerships p316
2.6.1 Vertical Integration
Summary of BYD’s Core Competitiveness P317
3.
Comparison of Battery Competitiveness Between Korea and China
3.1 Outlook for the Chinese and Korean EV Markets 319
3.2 Comparison of Production CAPA Among Major Battery
Companies 324
3.3 Comparison of Financial Performance Among Major Battery
Companies 326
3.4 Comparison of Battery Industry Policies in Korea and
China 327
3.5 Summary Table: China CATL vs. Korea Top3 Companies 328
3.6 Implications 329