South Korean companies gain 42% share from the EV batteries market

2 April 2020, 09:53:26

South Korean companies gain 42% share from the EV batteries marketAccording to SNE Research and its data for the global EV battery usage in February 2020, the South Korean companies have gained a total of 42% of the market share, which is deemed as a real breakthrough. Panasonic is first with 34.1%. LG Chem is second with 29.6%. CATL is third with 9.4%. AESC Japan is fourth with 7.7%. Samsung SDI is fifth with 6.5% and SK Innovation is sixth with 5.9% market share. They are followed by PEVE, BYD, LEJ and BEC. The total market share of the three South Korean companies is 42%, which has doubled year-on-year. The percentage of the Chinese companies has decreased from 32.8% to 11.1% YoY and the one of the Japanese companies, increased from 33.2% to 45.8%.

No. 1 Panasonic grew 74.0% year-on-year thanks to the rapid increase in the volume of Tesla Model 3 in the US. On the other hand, many other Japanese companies showed a contrast due to the decrease in usage, and most Chinese companies, including CATL and BYD, were also sluggish due to the Chinese market slowdown. LG Chem rose to the second place with a 1.7GWh surge of 2.6 times compared to the same month last year. Samsung SDI rose 54.8% to 372MWh, rising two steps to fourth place. SK Innovation climbed 2.7 times to 342 MWh, ranking up three steps.

The growth of the three companies was driven by increased sales of models equipped with each company's batteries. LG Chem's usage increased significantly thanks to the surge in sales of Renault Joe, Audi E-tron EV, and Tesla Model 3 (made in China). Samsung SDI continued to grow thanks to strong sales of Volkswagen e-Golf and Passat GTE. SK Innovation's strong sales of Hyundai Porter Electric, Soul Booster, and Niro EV led the surge.

In February 2020, the total battery energy of electric vehicles registered in vehicles around the world was 5.8 GWh, an increase of 16.5% from the same month of the previous year. Despite the stagnant Chinese market, the US and European markets have grown significantly.

Meanwhile, the cumulative global electric vehicle battery usage in January and February 2020 was 13.1 GWh, up 3.4% from the same period of the previous year. However, from March, it is highly likely that the U.S. and European markets will contract significantly due to the new coronavirus, so that it will likely return to reverse growth again. Source

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