Tesla Model 3 equipped with Ningde-era batteries reaches South Korea

China, Japan, and South Korea currently control more than 90% of the world's automotive power battery market. It is understood that in 2021, the global installed capacity of Ningde era power batteries will reach 96.7GWh, with a market share of 32.6%, a year-on-year increase of 167.13%; the second-ranked LG new energy installed capacity is 60.2GWh, with a market share of 20.3%, a year-on-year increase of 75.51%.

Tesla has started selling the Model 3 Standard Range Plus with CATL batteries in South Korea. Although only some models are currently available, all Model 3 Standard Range Plus models ordered by South Korean customers already use batteries from the Chinese company, the sources said. The models are produced at Tesla's factory in Fremont, USA, and use lithium iron phosphate batteries.

Kia is the first Korean car brand to sell CATL batteries in South Korea. Currently, the Niro EV sold by Kia in the country uses nickel-based batteries from the CATL era.

The report pointed out that Tesla's Model 3 models in the United States use lithium iron phosphate batteries due to rising nickel and cobalt costs, and the company has raised the pricing of its main models several times this year.