LG Energy Solution tops global EV battery market excluding China
Hyung-Kyu Kim
Feb 14, 2023 (Gmt+09:00)
South Korea's LG Energy Solution Ltd. for the second straight year was No. 1 on the global market for electric vehicle (EV) batteries excluding China.
Three Korean companies – LG Energy Solution, Samsung SDI Co. and SK On – controlled half of the global market for such batteries.
SNE Research, a company that surveys energy, on Tuesday said the use of EV batteries worldwide excluding China last year spanned 219.3 gigawatt hours (GWh), up 45.2% from 2021.
By company, LG Energy Solution saw the use of its batteries grow 22.9% to 65.2 GWh, keeping the company at the top of the list. Its growth was fueled by higher sales of Tesla's Model 3 and Y and Volkswagen's ID.3 and ID.4.
The use of SK On's batteries surged 65.2% to 27.8 GWh for fourth place due to strong demand for the Hyundai IONIQ 5 and 6 and Kia EV6.
Fifth-place Samsung SDI saw battery usage of 24 GWh, up a whopping 70.1% thanks to steady sales of the Audi E-Tron lineup, BMW iX and i4, and Fiat 500.
Second to LG Energy Solution on the global market excluding China was the Ningde, China-based Contemporary Amperex Technology, aka CATL, with 48.8 GWh.