South Korean battery companies are lagging behind Chinese companies in the global market.

Korean media: Even in markets outside China, South Korean batteries are not the match of Chinese companies!

On February 4, the Korean media "Chosun Business" published an article stating that in markets outside China, the global usage of electric vehicle batteries also showed strong growth. However, the market share of South Korea's three major battery companies, LG Energy Solution, Samsung SDI, and SK On, has declined, falling behind Chinese companies.

Data from the energy market research company SNE Research shows that from January to November last year, the total battery usage for pure electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles registered in countries outside China reached 415.1 GWh, an increase of 26.4% compared to the same period last year.

Among them, the combined market share of the three South Korean battery companies decreased by 6.8 percentage points to 37.2% compared to the same period last year.

LG Energy Solution maintained the second position (market share 20.9%), second only to China's CATL, with its battery usage increasing by 7.7% to 86.9 GWh. SK On ranked third (market share 9.7%), with battery usage of 40.4 GWh, up 13.8% year-on-year. Meanwhile, Samsung SDI's battery usage fell by 4.9% to 27.1 GWh, ranking sixth (market share 6.5%).

Japan's Panasonic, which mainly supplies batteries to Tesla, ranked fourth (9.3%), with battery usage of 38.5 GWh, up 23.1% year-on-year.

Chinese companies continued to maintain a strong growth trend in the global market.

CATL led with 121.2 GWh of battery usage (market share 29.2%), up 37.5% year-on-year. BYD ranked fifth (market share 7.7%) with 31.9 GWh of battery usage, up 138.0% year-on-year.

SNE Research analyzed: "Due to the slowdown in electric vehicle growth, North American automakers are strengthening their long-term procurement contracts and restructuring their regional supply chains. Energy storage systems will play a buffering role, but converting ternary facilities to prismatic lithium iron phosphate is expected to be an uncertain factor in terms of cost and time."

SNE Research also stated: "In Europe, although the electrification process will continue, profitability assessments will be strengthened, battery procurement will be segmented by model, and the supply chain will also be regionalized, with higher proportions of local assembly and raw material procurement."

Original: toutiao.com/article/1856197646434316/

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