Cui Dongshu: The competitive landscape of the battery industry is characterized by relatively strong features of CATL and BYD.

Cui Dongshu, secretary-general of the China Passenger Car Association, stated in a document that the competitive landscape of battery companies is dominated by Ningde Times and BYD. Ningde and BYD are expected to maintain a 64% market share by 2026, leaving over 35% of the market for other companies. This year, Guoxuan High-Tech, Honeycomb Energy, Geely YaoNing, and Chuneng New Energy have shown strong performance. Due to BYD's comprehensive transition to lithium iron phosphate batteries, the advantages of Ningde Times, Honeycomb Energy, and other ternary batteries have become more obvious. Recently, the strong promotion of ternary batteries in the high-end plug-in hybrid market has further boosted their growth.