Korean media: China's batteries are making rapid progress, while South Korean batteries are retreating!

On November 30, the Korean media "Chosun Ilbo" published an article stating that the global use of electric vehicle batteries has increased, but the market share of the three major battery companies in South Korea has declined.

Data from the energy market research company SNE Research shows that from January to September this year, the total battery usage for pure electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles registered in countries other than China was approximately 338.9 GWh, an increase of 29.7% compared to the same period last year.

During the same period, the global market share of the three major South Korean battery companies, LG Energy Solution, SK On, and Samsung SDI, for electric vehicle batteries decreased by 5.4 percentage points to 38.0%. 

LG Energy Solution's global market share for electric vehicle batteries dropped from 24.6% last year to 21.5% this year, a decrease of 3.1 percentage points. SK On's market share fell from 10.6% last year to 10.1% this year, a decrease of 0.5 percentage points. Samsung SDI's market share dropped from 9.2% last year to 6.8% this year, a decrease of 2.4 percentage points. 

Although the global use of electric vehicle batteries increased by 29.7%, the growth rates of LG Energy Solution (13.2%) and SK On (23.6%) were both below the market average. On the other hand, Samsung SDI decreased by 4.5%, indicating that the market shares of these three South Korean domestic companies have all declined.

At the same time, Chinese companies are leading the global market with low-cost lithium iron phosphate (LFP) batteries, thus consolidating their position in the global market.

Contemporary Amperex Technology Co., Limited (CATL) has consolidated its global leadership. Excluding the Chinese market, CATL's sales increased by 36.3% (96.5 GWh). Its market share for electric vehicle batteries rose by 1.4 percentage points from 27.1% last year to 28.5% this year. Not only Chinese automakers, but many major global automakers are also adopting CATL's batteries.

BYD ranked fifth in markets outside China, achieving a growth rate of 145.9% (25.8 GWh). Its market share increased from 4.0% last year to 7.6% this year, an increase of 3.6 percentage points. BYD produces batteries and electric vehicles independently and is expanding sales in various segments of the market with its competitive pricing. 

SNE Research pointed out: "The three South Korean battery companies rely heavily on the European and American markets, but due to the active localization expansion and low-price campaigns of Chinese companies, their market share in Europe is declining. South Korean battery companies continue to compete in the high-end NCM product field, while also accelerating the large-scale production of LFP and LMFP to meet the demand of the mass market, thereby ensuring long-term competitiveness."

Original: www.toutiao.com/article/1850202249842953/

Statement: The article represents the views of the author.