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Local Battery Makers Lose Market Share Despite Spike in Global Usage

Written: 2023-08-03 13:42:49Updated: 2023-08-03 14:55:58

Local Battery Makers Lose Market Share Despite Spike in Global Usage

Photo : YONHAP News

The market share in electric vehicle(EV) batteries for the three major South Korean manufacturers fell slightly despite a 50-percent increase in global usage.

According to industry tracker SNE Research on Thursday, the total battery usage of EVs around the world came to 304-point-three gigawatt hours in the January-to-June period, up 50-point-one percent from a year earlier.

Although the three major South Korean battery makers – LG Energy Solution, Samsung SDI and SK On – all posted growth in battery usage, their combined market share came to 23-point-nine percent in the first half, down two-point-two percentage points from the previous year.

LG Energy Solution ranked third globally with a market share of 14-point-five percent, while SK On accounted for five-point-two percent to rank fifth and Samsung SDI placed seventh with four-point-one percent.

China’s CATL led the global market with 112 gigawatt hours in the first half to claim a 36-point-eight-percent share.

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