LG Chem takes the first place in global EV battery deployment

7 May 2020, 02:14:08

LG Chem takes the first place in global EV battery deploymentLG Chem finally took the top spot in the global electric vehicle (EV, PHEV, HEV) battery usage ranking according to the sales in the first quarter of 2020. Samsung SDI and SK Innovation ranked 4th and 7th respectively.

In the first quarter of 2020, the total battery energy of electric vehicles registered in vehicles around the world was 20.4 GWh, down 14.2% from the same period last year. This is due to the slowdown in the Chinese and US markets and slow growth in the European market.

Panasonic's sales dropped by 3.8% year-on-year as total supply to Tesla models decreased. In addition, the majority of other Japanese companies have also deployed less batteries, and most Chinese companies, including CATL and BYD, have also been sluggish in the Chinese market.

On the other hand, LG Chem surged nearly 2.2 times to 5.5 GWh and jumped from 4th to 1st place compared to the same period last year. Samsung SDI rose by 34% to 1.2 GWh, climbing up two steps to fourth place. SK Innovation's ranking has also increased by two places due to almost doubling deployment to 0.9GWh.

The growth of the three companies was driven by increased sales of models equipped with batteries from the three Korean companies. LG Chem's strong sales were led by the Chinese Tesla Model 3, Audi e-Tron, and Renault Zoe. Samsung SDI's usage increased thanks to strong sales of Volkswagen e-Golf, Passat GTE, and BMW 330e. SK Innovation continued to grow thanks to strong sales of Hyundai Porter Electric, Soul EV, and Kia Bongo 1T EV.

Looking at the market share of battery makers, the share of all three Korean companies increased, and the total share of these three companies more than doubled from 16.4% to 37.5% in the same period last year.

Japanese Panasonic, PEVE, and LEJ all had their share of the decline, falling below the market average. On the other hand, Chinese companies excluding AESC all fell, as the rate of decrease significantly exceeded the market average. AESC is the only Chinese company that has increased usage, increasing its share.

Meanwhile, the cumulative global electric vehicle battery usage in March 2020 was 8.0 GWh, down 27.7% from the same period last year. The main factor was the significant contraction of the US and European markets under the influence of the new coronavirus. Moreover, from April, the impact is expected to accelerate and the recession is expected to deepen. Source

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