LG Energy Solution No. 1 in the electric vehicle battery market excluding China

Input 2021.02.17 19:39

In the global electric vehicle battery market excluding the Chinese market, LG Energy Solutions was found to have the largest market share. Samsung SDI and SK Innovation also ranked 3rd and 4th, respectively, with Korean companies occupying more than half of the world market.

According to market research firm SNE Research on the 17th, the amount of electric vehicle battery usage registered in countries other than China last year was 81.2GWh (gigawatt hours), up 56.2% from the previous year.

LG Energy Solutions ranked first with a 33.1% market share, surpassing Japan’s Panasonic. Panasonic ranked second with 31.6% market share. Samsung SDI (006400)Wow SK innovation (096770)Ranked 3rd and 4th with 10.1% and 9.7% respectively. The combined market share of the three Korean battery companies reached 52.9%.

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China CATL ranked fifth last year. The Chinese government mandates the use of Chinese-made batteries for electric vehicles produced in their own country, and CATL ranks first in terms of global market share, including the Chinese market. Excluding the Chinese market, however, CATL’s share was at 6.5%, up 1.2% from the previous year. SNE Research analyzed that “the influence of CATL, which had been limited to the Chinese market, is spreading outside of China.”

SNE Research CEO Kim Gwang-ju said, “Outside China, the three Korean battery companies are becoming more and more firm, but Chinese companies are increasingly pursuing, starting with CATL. said.

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