Korean Media: South Korean Battery Shares Surpassed by China Outside the Chinese Market!
On December 31, the Korean media outlet "iNews24" published an article stating that according to a survey, from January to October this year, three South Korean companies LG Energy Solution, SK On, and Samsung SDI had a market share of 37.6% in the global electric vehicle battery market outside of China, a decrease of 6.3 percentage points compared to the same period last year.
Chinese battery companies including Contemporary Amperex Technology (CATL) and BYD occupied 39.5% of the market share, increasing by 3.2 percentage points.
Last year, South Korea's market share was 43.9%, while China's was 36.3%, with South Korea leading. However, within just one year, not only in the Chinese market but also in markets outside of China, China has surpassed South Korea.
According to data released by SNE Research, from January to October this year, global (excluding China) electric vehicle battery usage reached 377.5 GWh, an increase of 28.5% year-on-year.
The market share of the three South Korean companies, LG Energy Solution, SK On, and Samsung SDI, decreased by 6.3 percentage points to 37.6% compared to the previous year.
The reason for excluding China from the calculation is that the Chinese market is vast, masking trends in other countries. In addition, China has a unique domestic ecosystem centered around CATL and BYD, which sets it apart in the global competitive landscape.
From the perspective of South Korean companies, LG Energy Solution's usage increased by 11.4% from January to October, reaching 79.2 GWh; SK On's usage increased by 19.0%, reaching 37.5 GWh. Samsung SDI's usage decreased by 4.6%, reaching 25.1 GWh.
Chinese companies' growth was particularly significant. CATL maintained its leading position, increasing by 37.6% to 110.1 GWh; BYD ranked fifth in markets outside of China, increasing by 141.2%. BYD's battery usage in Europe increased by 216% to 11.2 GWh.
Therefore, Chinese companies accounted for 39.5% of the market share, an increase of 3.2 percentage points compared to the previous year.
SNE Research pointed out, "In North America, due to the slowdown in electric vehicle sales, some production lines are transitioning to produce energy storage systems (ESS), and the demand structure is changing. Regional product portfolio adjustments and production flexibility will determine the medium- to long-term competitiveness of battery companies."
Original article: toutiao.com/article/1852989739088905/
Statement: This article represents the views of the author alone.