SEOUL, Feb. 10 (Korea Bizwire) — South Korea’s major electric vehicle (EV) battery producers increased their market share in 2019 from a year earlier in line with increased global EV battery use, industry data showed Monday.
Based on the global usage of their EV batteries, the combined market share of three South Korean EV battery makers — LG Chem Ltd., Samsung SDI Co. and SK Innovation Co. — stood at 15.8 percent in 2019, compared with 11.8 percent from a year earlier, according to data from market tracker SNE Research.
LG Chem was the third-best performer in the world with a 10.5 percent market share, and 12.3 gigawatt-hours (GWh) worth of its EV batteries was used in 2019, up 64.8 percent from a year earlier.
Samsung SDI was fifth on the list with a 3.6 percent market share after the global usage of its EV batteries surged 20.9 percent on-year to 4.2 GWh, while SK Innovation ranked 10th with a 1.7 percent market share with 1.9 GWh, the data showed.
SNE Research said China’s CATL was the No. 1 player in 2019 with a 27.9 percent market share and usage of its EV batteries rose 39 percent on-year to 32.5 GWh.
Japan’s Panasonic came in second place with a 24.1 percent market share, and the usage of its EV batteries increased 32.1 percent on-year to 28.1 GWh.