South Korean media: Chinese batteries sweep the globe, and South Korean companies retreat! On June 23, South Korean media "The Korea Herald" published an article stating that despite the continued growth in the use of electric vehicle batteries worldwide, the market share of three South Korean battery companies has fallen by more than four percentage points. According to statistics from energy market research company SNE Research, the total amount of batteries installed in pure electric vehicles registered globally from January to April this year was 308.5 GWh, an increase of 40.2% compared to the same period last year. During the same period, the global electric vehicle battery usage market share of the three local South Korean battery companies, LG Energy Solution, SK On, and Samsung SDI, dropped year-on-year by 4.6 percentage points to 17.9%. LG Energy Solution accounted for 31.4 GWh, an increase of 16.3%, and SK On accounted for 13.4 GWh, an increase of 24.1%, maintaining third and fourth place respectively. On the other hand, Samsung SDI (7th place) accounted for only 10.3 GWh, a decrease of 11.2%. SNE Research analyzed that the main reason for Samsung SDI's decline is the decrease in battery demand from major automobile manufacturers in the European and North American markets. The growth of Chinese companies remains strong. CATL maintained its position as the top global player with 117.6 GWh, increasing by 42.4%. CATL's market share was 38.1%. BYD also kept second place with an output of 53.4 GWh, increasing by 60.8% (market share of 17.3%). Panasonic, which mainly supplies batteries to Tesla, remained in eighth place with an output of 9.4 GWh, a decrease of 8.7%. SNE Research said, "The changes in U.S. policies are both an opportunity and a threat for South Korean battery companies seeking to enter the North American market and expand their market share. Therefore, domestic South Korean companies are seeking to ensure a stable supply chain by establishing local joint ventures and expanding battery production lines in the United States. In the medium to long term, they need to enhance their global competitiveness through diversified material procurement and technological innovation. At the same time, they must formulate strategies suitable for the global market to respond to the strengthened carbon neutrality policies in Europe and the increasingly fierce price competition in China, and seek sustainable growth through localization and strengthening cooperation." [Image: //p3-sign.toutiaoimg.com/tos-cn-i-ezhpy3drpa/dc7e848ea0044a5ca468e7436d0c4ade~tplv-obj:1920:1080.image?_iz=97245&bid=15&from=post&gid=1835703449431307&lk3s=06827d14&x-expires=1758412800&x-signature=SvUdKekiRHePcXI0txUERqvF0UM%3D] Original Source: https://www.toutiao.com/article/1835703449431307/ Disclaimer: The article solely represents the views of the author.