Asia Tech Wire (Apr 8) -- South Korea's LG Energy Solution has overtaken BYD to become the world's second-largest producer of electric vehicle batteries, a report said.

From January to February 2024, LG Energy Solution sold 12.7 gigawatt-hours of electric vehicle batteries, accounting for 13.7% of the global market, according to a report released Monday by South Korean market research firm SNE Research.

(Source: 2024 March Global Monthly EV and Battery Monthly Tracker, SNE Research)

China's CATL remained No. 1 with a 38.4% market share, while BYD slipped to third place with a 13.1% market share.

Global EV battery sales rose 27% year-on-year to 92.4 gigawatt-hours in the same period, SNE Research said.