South Korean EV batteries manufacturers increase market share

22 November 2019, 03:44:07

According to a report from SNE Research, cited by Yonhap, the South Koream manufacturers of EV batteries experienced an increase in their market shares. LG Chem takes the third place in the world with 10.7% market share and 1 GWh of its EV batteries used in September. This is a 69% YoY increase. Samsung SDI is sixth in the world with a 3.8% market share that has increased by 37.9% YoY. Finally, there's SK Innovation which is ninth in the world with 1.5% market share and a 33.7% YoY increase.

The first in the EV batteries market is Panasonic with 37.1% market share after the usage of its EV batteries amounted to 3.7 GWh with a 15.65 YoY increase.

This increase happens despite the drop in EV batteries usage for a second consecutive month with 10 GWh of EV batteries used in September - that's down by 10.5% YoY. The global downward trend is due to the downward trend in the Chinese market. BYD recorded a 71.2% YoY drop in the usage of its batteries and CATL reported a 10.2% YoY decrease, according to SNE Research.Source

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