(Nov 22): Contemporary Amperex Technology Co (CATL) and BYD Co saw sharp declines in sales of electrified-vehicle batteries in September as demand weakened in China, where the government is cutting subsidies in the EV sector.

Sales by market leader CATL fell 10%, while BYD’s slumped 71%, causing it to lose its No. 3 ranking to South Korea’s LG Chem Co., SNE Research said.

CATL had 26.6% of the global market in the first nine months, followed by Panasonic Corp. at 24.6%.

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