CATL catches up with LG Chem in EV battery market for 2020

10 October 2020, 23:54:53

Add as a preferred source on Google According to the latest report by SNE Research, LG Chem holds the first place in the global EV battery market according to GWh shipped in the January-August period of 2020. The Korean giant holds 15.9% of the market. However, CATL is quickly catching up with 15.5% market share. They are followed by Panasonic with 12.4%, Samsung with 4.1%, and BYD with 3.7%.

During the January-August period of 2020, the total amount of global EV batteries shipments was 64.7 GWh, down 9.9% from 71.8 GWh year-on-year, because of decreased demand in EVs and cars in general in the first half of this year, especially in major markets such as China and the USA.

However, most of the companies record growth YoY, including LG Chem - 13.9% growth, Samsung SDI - 2.7%, SK Innovation - 2.4%. CATL is down by 3.1% but is on a reverse growth trend, so is Panasonic that is down by 4.1% YoY.

LG Chem's growth was due to the increase in sales of the Tesla Model 3, Renault Zoe, and POrshe Taycan. Samsung SDI grew thanks to the increase in sale so fthe Audi e-tron, Ford Kuga PHEV, and BMW 330e. SK Innovation's growth was due to the increase in sale of Kia Niro EV, Hyundai Porter 2 Electric and Soul Booster.

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