LG Energy Solutions to keep No.1 in world market except for China

Seoul: LG Energy Solution has kept No.1 place in global EV (Electric Vehicles) battery markets excepting Chinese market.

According to the SNE Research on the 15th, a total amount of EV battery energy in global market except or China from January to April this year was 36.0GWh, increased more than twice year-on-year.

For the companies, LG Energy Solution rapidly jumped up 146.0% to 12.6GWh, overtook Panasonic and took No.1 in the global market.

SK Innovation, which is ranked 5th, increased its market share by 143.5% to 3.5GWh.

Meanwhile, Chinese CATL is ranked 4th with its rapid growth more than four times as the sales of pure electric vehicles such as Tesla Model 3(the Chinese export volume to Europe), Peugeot e-2008, and Opel Corsa of Vauxhall Motors increased.

It means that CATL’s status is rapidly increasing in world markets as well as the Chinese market.

The main reason of an increasing growth rate of three Korean EV battery companies is due to the well-selling EV models equipped with each company’s batteries.

LG Energy Solution especially shows rapid growth as the sales of Volkswagen ID.3 and ID.4, Ford Mustang Mach-E increased.

Samsung SDI’ growth rate is derived from the high sales volume of Audi E-Tron EV, Fiat 500 and Ford Kuga PHEV.

SK Innovation’s rapid growth rate increased with the strong sales of Kia Niro BEV, Hyundai KONA BEV and Mercedes-Benz GLE PHEV.

The amount of battery use for last April was 8.8GWh, increased more than 3.5 times year-on-year.

LG Energy Solution overtook Panasonic and was ranked No.1 with the wide gap more than doubled between Panasonic, SK Innovation and Samsung also showed more than hundred percent of growth rate. In particular, CATL showed super-rapid growth rate which is more than 10 times.

“Three Korean companies’ competition for EV battery with other global companies, such as CATL and Panasonic, has become fierce in the global market except for Chinese market,” said an official of SNE Research. “It is interesting how Korean domestic companies to find a breakthrough in this situation.”