China Now Makes More Than 7 in 10 EV Batteries Worldwide, and Two Companies Are Doing More Than Half the Work (opens in new tab)

Chinese manufacturers controlled 71.4 percent of the global EV battery market in the first quarter of 2026, SNE Research data show — an 11-point gain in two and a half years. CATL alone holds 40.7 percent, and the company's operating margin reached 18 percent last year while South Korean rivals post recurring losses.