South Korean companies’ combined market share in the global electric vehicle(EV) battery market has surpassed 40 percent for the first time. 

Energy market tracker SNE Research reported on Tuesday that LG Chem, Samsung SDI and SK Innovation together carved out 42 percent of EV battery market shares in February. 

The figure is more than double the 20-point-nine percent combined share they posted a year earlier. 

Japanese firm Panasonic was the individual leader with a share of 34-point-one percent, while LG ranked second with 29-point-six percent, a notable growth from 22-point-one percent in January. 

Samsung and SK placed fifth and sixth with six-point-five percent and five-point-nine percent, respectively. 

SNE Research partly attributed their growths to the negative growth of their Chinese rival, CATL. Many industry players, including the South Korean firms, however, were expected to face significant challenges starting from March, due to the COVID-19 pandemic.