In the Know Neil Beveridge: CATL, The Road to Battery Market Dominance
Apr 2, 2025
Neil Beveridge, an APAC oil, gas, and energy storage analyst at Bernstein Research, dives into the world of CATL, the largest battery maker globally. He shares insights on CATL's impressive growth trajectory, projecting 30% demand growth by 2025 and massive capacity plans reaching up to 1,000 GWh by 2027. Beveridge discusses the competitive landscape, highlighting rivals like BYD and LG, and explains CATL's strategic global expansions and supply chain innovations, including their ambitious recycling operations and partnerships.
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CATL: Market Leader With Broad Ambition
- CATL is the world's largest battery company with leading technology and strong profitability.
- It focuses on large lithium-ion batteries for EVs, energy storage, and emerging applications like flying cars.
Huge Runway For Battery Demand
- Battery demand is rising ~30% in 2025 with new applications driving growth.
- Bernstein forecasts demand growing from ~1.5TWh today to ~4–4.5TWh by 2030 and ~12–13TWh by 2050.
Chemistry Split Shapes Market
- Two dominant chemistries: high-nickel (NMC) and LFP, with China leading in LFP.
- New chemistries like sodium-ion may gain traction as use-cases and cost/safety trade-offs evolve.