TechTalk 705.5 GWh

Published on May 4th, 2024 | by Daniel Sherman Fernandez


Electric Vehicles In 2023 Consumed A Total Of 705.5GWh

Total global battery consumption for electric vehicles was only 705.5 GWh

It has just been reported by DW Business news channel that in 2023, the total global battery consumption for electric vehicles was only 705.5 GWh, which is up 38.6 percent compared to 2022.

705.5 GWh

This is according to a report shared by South Korean market research center SNE Research.

Meanwhile, the Chinese power battery giant CATL continues to rank first in the world and remains the only battery supplier with a market share of more than 30 percent.

Interestingly, this is the seventh consecutive year that CATL has topped the EV battery market. With the support and assistance of its global new energy vehicle partners, CATL stands as the world’s only battery manufacturer with a market share of more than 30%.

705.5 GWh

Technological innovation is the key driver for CATL. In 2023, as a global leader in new energy innovative technologies, CATL made great efforts in both technology and products, for example, Qilin Battery was put into mass production and Shenxing Superfast Charging Battery was launched.

In 2024, in the context of global energy transformation, CATL will remain dedicated to breakthroughs and innovations, and building solid competitiveness for global new energy vehicle partners with cutting-edge technology and innovative products, thus promoting high-quality development of the industry.

As EV sales continue to increase in today’s major markets in China, Europe and the United States, as well as expanding across more countries, demand for EV batteries is also set to grow quickly. In the STEPS, EV battery demand grows four-and-a-half times by 2030, and almost seven times by 2035 compared to 2023. In the APS and the NZE Scenario, demand is significantly higher, multiplied by five and seven times in 2030 and nine and twelve times in 2035, respectively.

To put this in context, in the APS in 2035, there could be as much EV battery demand per week as there was in the entire year of 2019.

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