South Korean media: South Korea's battery global share continues to decline, and the gap with Chinese companies further widens.

South Korean media: South Korean battery global share continues to decline, and the gap with China is getting bigger!

On April 30, South Korean media Chosun Ilbo published an article stating that from January to February this year, the electric vehicle battery market share of the three South Korean battery companies LG Energy Solution, SK On, and Samsung SDI dropped by 5.5 percentage points year-on-year to 17.7%. Chinese battery manufacturers such as Contemporary Amperex Technology Co. Limited (CATL) and BYD maintained or increased their shares, further widening the gap with South Korean enterprises.

Market research company SNE Research found that after analyzing the batteries installed in electric vehicles registered in various countries around the world from January to February this year, the global market share of the three South Korean battery companies in electric vehicle battery usage decreased by 5.5 percentage points compared to a year ago.

LG Energy Solution ranked third, growing by 8.5% (12.7 GWh). In terms of LG Energy Solution's battery usage, the amount of LG Energy Solution batteries used by Tesla fell by 35.7%, due to poor sales performance of models equipped with LG Energy Solution batteries. However, with the growth in sales of Volkswagen ID series and Kia EV3, the total usage increased by 8.5%.

Due to the decrease in battery demand from major automotive clients in the European and North American markets, Samsung SDI fell by 22.2% (4.2 GWh).

SK On ranked fourth with a growth rate of 38.6% (6.1 GWh). From the perspective of SK On's battery usage, Hyundai Motor Group's Ionic 5 and EV6 saw a recovery in sales after modifications.

Contemporary Amperex Technology Co. Limited (CATL) grew by 39.7% (49.6 GWh), consolidating its position as the top-ranked company. This is influenced by global electric vehicle companies such as Tesla, BMW, Mercedes-Benz, and Volkswagen adopting CATL batteries, including domestic carmakers like ZEEKR, Li Auto, and Xiaomi. BYD grew by 81% (21.9 GWh) and ranked second.

SNE Research stated, "Due to the uncertainty in the global electric vehicle market caused by the tariff policies of the Trump administration in the United States, the U.S. announcement of tariffs on Chinese batteries and key raw materials has led to tension in the global electric vehicle supply chain."

Global companies dependent on Chinese raw materials and batteries are promoting supply chain restructuring, while expanding local production in North America and diversifying raw material suppliers have become important tasks for South Korean battery companies.

Original source: https://www.toutiao.com/article/1830830865355840/

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