Chinese CATL No. 1 in the New Year’s Electric Vehicle Battery Market… “The Chinese counterattack is intensifying”

Input 2021.03.02 10:52 | Revision 2021.03.02 11:21

CATL’s overwhelming 1st place… LG Energy Solution 2nd place
“The impact of the Chinese battery market’s triple growth in one year”

In January of this year, Chinese CATL ranked first in the global battery market. LG Energy Solution ranked 2nd, and Samsung SDI and SK Innovation ranked 5th and 7th respectively. In the new year, Chinese battery makers are on the rise.

According to SNE Research, a market research firm on the 2nd, the total amount of electric vehicle battery energy registered in the world in January was 13.7 GWh (gigawatt hours), nearly doubled from the same period last year. In particular, the Chinese market expanded more than three times, leading the market growth.

Thanks to the growth of the domestic market, the share of Chinese companies has also increased significantly. CATL ranked first with an overwhelming market share of 31.2%. CATL’s electric vehicle battery usage was 4.3 GWh, an increase of 166.2% compared to the same period last year. Then, BYD in China ranked 4th and 6th with a market share of 8.9% and CALB of 4.1%.

Despite the offensive of Chinese companies, the three domestic battery makers accounted for about a third (27.2%) of the global battery market share. LG Energy Solution’s battery usage was 2.5GWh, an increase of 50.6% compared to the same period last year, but its market share fell from 23.9% in January of last year to 18.5% in January of this year.

Samsung SDI (006400)The battery usage increased by 18.6% to 0.7GWh, recording 4.8% of market share, but the ranking went down one step to fifth place. SK innovation (096770)Road usage increased by 68.5% to 0.5GWh, the highest growth rate among the three domestic companies, but the ranking fell by one place to the 7th place. Its share was 3.9%.

SNE Research diagnosed that “the advancement of Korean companies, which has continued until last year, has been slightly slowing down by the offensive of Chinese companies this year.” .

He added, “As Chinese companies are expanding their business partners in Europe and other non-Chinese regions, they are threatening the three domestic companies even more.” Added.