According to the 2025 China Electric Vehicle Battery Industry Development White Paper released by EVTank, global EV battery shipments reached 1,051.2 GWh in 2024, marking a year-on-year increase of 21.5%. Notably, two companies from Changzhou—CALB and SVOLT—secured positions in the top 10, ranking 4th and 10th, respectively.

The top 10 global EV battery suppliers in 2024, according to EVTank, are: CATL, BYD, LG Energy Solution (LGES), CALB, SK On, Panasonic, SDI, Gotion, EVE, and SVOLT. CATL leads the market with nearly 360 GWh in shipments, commanding a global market share of 34.2%. The company has also invested in a wholly-owned subsidiary, Jiangsu Contemporary Amperex Technology Limited, located in Changzhou’s Liyang, a county-level city.

Both CALB and SVOLT are based in Changzhou’s Jintan district. In 2024, CALB rose to 4th place, surpassing Panasonic, while SVOLT entered the global top 10 for the first time. The presence of two Changzhou-based companies in the top 10 highlights the city’s strong technological innovation and market expansion capabilities in the EV battery sector.

The global EV battery market in 2024 is following a pattern of “stable leaders and emerging challengers,” with Chinese companies making significant strides. In particular, China’s share of lithium iron phosphate (LFP) batteries has grown rapidly, now approaching 75% of the market. Companies like CALB and SVOLT are leading the industry toward a greener, safer, and more sustainable future, further solidifying Changzhou’s role as a global hub for new energy.

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