CHINESE companies are expanding their share of the U.S. and European electric vehicle (EV) battery markets, cementing their domination of the industry globally.

Shenzhen-listed Contemporary Amperex Technology Co. ranked No. 1, with a 37% share of the market worldwide, at the end of August, according to a report from Seoul-based SNE Research.

When BYD Co.’s 16% share is included, the two Chinese companies account for more than half the battery market for electric cars, the data showed.

CATL’s sales in Europe and the United States almost doubled from a year earlier, SNE said, without disclosing details. Its batteries are used in Tesla Inc.’s Model 3 and Y, BMW AG’s iX and Mercedes-Benz Group AG’s EQS, in addition to powering Chinese cars like MG Motor’s MG ZS and Guangzhou Automobile Group’s Aion Y, the research group said.

South Korea’s LG Energy Solution Ltd. came third with a 14% share, driven by sales of Tesla’s Model 3 and Y, Volkswagen’s ID. 3 and 4, and Ford Motor Co.’s Mustang Mach-E.

Japan’s Panasonic Corp. ranked fourth, led by sales of Tesla’s Model Y, while the Japanese battery firm is seeking to develop a partnership with Mazda Motor Corp, SNE Research said. (SD-Agencies)