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S. Korean EV Battery Makers' Market Share Slips 9%p in H1

Written: 2022-08-02 16:47:34Updated: 2022-08-02 18:57:54

S. Korean EV Battery Makers' Market Share Slips 9%p in H1

Photo : YONHAP News

The global market share of South Korea's top three electric vehicle(EV) battery makers dropped sharply in the first half of this year from the year before.

According to SNE Research, a global energy market research firm, LG Energy Solution, SK On and Samsung SDI accounted for a combined 52-point-four gigawatt-hours(GWh), or nearly 26 percent, of the world's total registered EV battery energy that came to slightly over 203 gigawatt-hours, constituting a drop of roughly nine percentage points on-year.

LG Energy Solution retained the second spot but its market share fell by nine-point-four percentage points on-year, while SK On and Samsung SDI ranked fifth and sixth respectively.

Chinese battery makers, on the other hand, posted strong growth, with CATL firming up its top spot, accounting for almost 35 percent of global market share. BYD ranked third, taking up nearly 12 percent.

SNE Research assessed that the EV battery market continued to grow despite COVID-19 risks with Chinese firms showing noticeable growth.

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