SK Innovation has been increasing spending on the EV battery business in a bid to diversify its business portfolio.(image: SK Innovation)
SEOUL, May 7 (Korea Bizwire) — SK Innovation Co., a latecomer to the electric vehicle battery market, joined the ranks of the world’s top 10 players in terms of sales during the first quarter of the year, industry data showed Tuesday.
According to the data by SNE Research, a market researcher on renewable energy, SK Innovation, also the country’s leading oil refiner, reported 447 megawatt hours of capacity sold in the first three months of 2019. This put it in 9th place among battery suppliers.
The data is based on EV batteries that were actually used and sold in the market.
Its larger local rival LG Chem Ltd. came in fourth with a capacity of 2.47 GWh sold during the cited period. Samsung SDI, another EV battery maker affiliated with Samsung Group, had 705 MWh of capacity to come in sixth, the data showed.
Chinese EV battery makers still dominated the world’s EV battery market, with CATL, BYD Co. and Guoxuan all on the top list, the data showed.
(Yonhap)
