S. Korean EV Battery Makers' Market Share Hits Record High in Jan. | Be Korea-savvy

S. Korean EV Battery Makers’ Market Share Hits Record High in Jan.

LG Chem Ltd.'s researchers inspecting lithium-ion batteries. (image: LG Chem)

LG Chem Ltd.’s researchers inspecting lithium-ion batteries. (image: LG Chem)

SEOUL, March 2 (Korea Bizwire)The market share of South Korea’s major electric vehicle (EV) battery producers reached a record high last month, 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 30.8 percent in January, according to data from market tracker SNE Research.

LG Chem was the second-best performer overall, with a 22.9 percent market share, more than double its 9 percent share a year earlier.

Robust sales of the Renault Zoe EV and the Audi e-tron EV — both powered by LG Chem batteries — helped the company’s growth, SNE Research said.

Samsung SDI was fourth on the list with a 5.1 percent market share, while SK Innovation moved up five spots to rank seventh with 2.8 percent, according to the data.

Sales of the BMW 330e and Volkswagen’s Passat GTE expanded Samsung SDI’s global presence, while SK Innovation benefited from sales of Kia Motors’ Niro and Soul Booster EVs, SNE Research said.

Japan’s Panasonic Corp. topped the list with a 27.6 percent market share in January, thanks to strong sales of the Tesla Model 3, which uses its batteries. At 21.9 percent of the market, China’s CATL was the third-best player.

Meanwhile, the global usage of EV batteries came to 7.3 gigawatt-hours (GWh) in January, 6.2 percent down from a year ago, due to slump in the Chinese EV market, SNE Research said.


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