Korean battery makers sell a third of EV batteries globally
LG Energy Solution, Samsung SDI and SK Innovation took 34.7 percent of the market in 2020, according to data compiled by SNE Research.
By company, Ningde, China-based CATL topped the chart with a 24-percent market share, a slight drop from 2019's 27.6-percent market share.
LG Energy Solution with 23.5 percent of the market, toppling Osaka’s Panasonic, was ranked in second in 2020.
The EV battery unit of LG Chem supplied 33 gigawatt-hour (GWh) worth EV battery capacity last year, posting a 171.5-percent year-on-year growth.
Panasonic took 18.5 percent of the market, down from the previous year's 24.4 percent. Its electricity supply for EVs dropped by 8.2 percent in 2020.
Shenzhen’s BYD last year claimed 6.7 percent of the market, down from 9.4 percent from the previous year. Its electricity supply decreased by 13.5 percent during the cited period.
Samsung SDI was the fifth-biggest battery supplier for EVs, with a market share of 5.8 percent, two percentage points up from the previous year. Electricity capacity supplies grew 85.3 percent from 4.4 GWh in 2019 to 8.2 GWh in 2020.
SK Innovation’s output grew 274.2 percent, from 2.1 GWh in 2019 to 7.7 GWh in 2020. Its market share stood at 5.4 percent, placing it in the No. 6 spot.
"Three Korean battery companies' growth derived from sales increase of EV models installed with their batteries," SNE Research said in its report Monday.
"LG Energy Solution grew as a result of a sales jump in Tesla's Model [for the Chinese market], Renault Zoe and Volkwagen's ID.3."
Samsung SDI supplies batteries for the Audi e-tron, Ford's plug-in hybrid Kuga and Volkswagen's Passat GTE. SK Innovation's growth was driven by rising sales of Hyundai Motor's Kona Electric in the European market and Kia Niro EV sales, according to the research company.
It also said that global usage of EV batteries increased by 52.1 percent in December to 25.8 GWh as demand for new cars started to recover from the third quarter of 2020.
BY JIN EUN-SOO [firstname.lastname@example.org]