As the electric vehicle market grew, the growth of three domestic battery companies, including LG Energy Solution, Samsung SDI, and SK Innovation, gained momentum. The three companies recorded a high growth rate compared to their competitors in China and Japan last year and entered the’Top 5’in the global battery market.
According to market research firm SNE Research on the 4th, CATL ranked first with a 24.2% share in the ranking of battery usage for electric vehicles sold worldwide from January to November last year. CATL fell behind LG Energy Solutions in the figures from January to October of last year, but regained the top spot as the Chinese electric vehicle market recently recovered. LG Energy Solutions took second place with a 22.6% market share. Japan’s Panasonic (19.2%), Samsung SDI (5.8%), and SK Innovation (5.5%) followed.
Although it missed the No. 1 position, it is analyzed that the outlook is bright as the three domestic battery companies recorded high growth rates last year. From January to November last year, LG Energy Solutions recorded a growth rate of 142.7% over the previous year, overtaking CATL (3.1%) and Panasonic (-8.5%). During the same period, Samsung SDI increased by 72.4%, raising the world market share ranking from 5th to 4th.
SK Innovation’s growth is explosive. It jumped from 9th to 5th, growing 239.0% from January to November last year. During the same period, most Chinese and Japanese companies excluding CATL saw negative growth.
The high growth of the three companies is due to the increase in sales of electric vehicle models equipped with batteries from each company. LG Energy Solution’s sales of Tesla’s’Model 3 (made in China)’, Renault’s’Joe’, and Volkswagen’s’ID.3′ helped. Samsung SDI’s sales growth of Audi’E-tron EV’ and Ford’Kuga PHEV’ led to growth. SK Innovation’s sales volume of Hyundai’Kona Electric (Europe)’ and Kia’s’Niro EV’ led the growth.
Reporter Mansoo Choi [email protected]
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