South Korean media: South Korean batteries are comprehensively behind China! On June 8, a South Korean media, The Daily Economic, published an article stating that in the global electric vehicle battery market, the South Korean battery industry is being overtaken by China, and the sense of crisis is intensifying. Due to China's batteries leading in all aspects such as market share and profitability, the position of South Korean batteries is becoming unstable. In the first quarter of this year, the gap between CATL of China and the three South Korean battery companies is further widening, consolidating its dominant position in the global battery market. Only LG Energy Solution of South Korea can barely maintain profitability, while Samsung SDI and SK On are experiencing continuous losses. As the sales and profitability gap with Chinese companies continues to widen, a structural crisis sentiment is spreading throughout the South Korean battery industry. According to data from professional energy market research company SNE Research, in the first quarter of this year, CATL and BYD of China jointly accounted for 55% of the global electric vehicle battery market share. On the other hand, the combined market share of the three South Korean companies was only 18.7%, with a gap expanding to an astonishing 36.3 percentage points. Compared to the first half of last year, the gap has further widened, triggering concerns among South Korean industries. By 2024, the combined market share of CATL and BYD was 52.2%, while the combined market share of the three South Korean companies was 21.2%, with a difference of 31 percentage points. In just one year, the lead advantage of Chinese companies expanded by 2.9 percentage points. Among the top ten companies globally, except for the three South Korean battery companies and Japan's Panasonic, six were from China. Specifically, CATL maintained its leading position with a 38.3% share, while BYD also held second place with a 16.7% share. LG Energy Solution had a 10.7% share (3rd place), SK On had a 4.1% share (4th place), and Samsung SDI had a 3.3% share (7th place). Even if these three companies are combined, they still fall short of CATL alone. In the first quarter of this year, the performance gap between CATL and the three South Korean battery companies further widened. CATL continued to grow steadily, with sales reaching approximately 16.7 trillion won, up 6.3% year-on-year, and operating profit reaching approximately 3.4 trillion won, up 30%. On the other hand, among the three South Korean companies, only LG Energy Solution saw its sales increase by 2.2%, reaching 62.65 trillion won, with operating profit increasing by 138.2% to reach 374.7 billion won. Both Samsung SDI and SK On incurred losses. Original source: https://www.toutiao.com/article/1834325385208010/ Disclaimer: This article represents the views of the author alone.