SEOUL, June 9 (Korea Bizwire) — As China and Germany advanced in the electric vehicle (EV) and battery industry last year, the South Korean share of the global EV and battery export market dropped.
The Federation of Korean Industries reported that China and Germany raised their share of the world’s battery-based electric vehicle (BEV) export market by 9.5 and 3.8 percentage points, respectively, as of last year.
In contrast, South Korea, Belgium and the U.S. saw their shares drop by 0.8, 2.1, and 8.5 percentage points.
China’s rise in the BEV market share is attributed to a 513.9 percent increase in Chinese car exports to the EU.
The EU is the world’s largest BEV importer, with China expanding its market share from 4.2 percent in 2020 to 15.9 percent last year.
Germany, China, Poland, and Hungary saw their share of the global lithium-ion battery export market rise between 2020 and 2021, while South Korea’s market share dropped by 2 percentage points.
The market share of Chinese battery makers like CATL, BYD, CALB and others in the global EV battery market, including lithium-ion batteries, grew from 38.4 percent in 2020 to 48.7 percent in 2021.
In contrast, South Korea’s three major battery makers — LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. — saw their market share drop from 34.7 percent in 2020 to 30.4 percent in 2021.
China’s number-one market share, however, is largely attributed to the country’s large domestic market.
Setting aside the Chinese market, South Korea’s share of the global battery market reached 57 percent last year, up by 4.6 percentage points from the previous year to secure its position as the world’s largest battery producer.
H. M. Kang (email@example.com)