LG Energy tops global EV battery market excluding China
Ik-Hwan Kim
Apr 03, 2023 (Gmt+09:00)
South Korea's LG Energy Solution Ltd. in January and February maintained its No. 1 position on the global market for electric vehicle (EV) batteries excluding China.
Yet China's CATL surged even on foreign markets in closing in on the top spot.
SNE Research, a market research company specializing in energy, on Monday said the battery capacity of installed EVs in all countries except China in January and February was 36.8 gigawatt hours, up 50.1% from the same period last year.
By company, LG Energy Solution saw its EV battery capacity jump 48.9% to 9.3 GWh, maintaining its market lead.
CATL saw its figure rise 79.3% to 8.7 GWh, closing in on LG Energy Solution's dominance.
Japan's Panasonic was third with 7.8 GWh, up 48.9%.
South Korean companies SK On was fourth and Samsung SDI Co., fifth.
The market share of the three South Korean companies was 46.6%, down from 51.3% year on year.
LG Energy Solution's share was 25.4%, down 0.2 percentage points, and SK On's 11.3%, down five. Samsung SDI raised its share from 9.4% to 9.9%.
"Certain Chinese companies like CATL are showing high growth rates in non-Chinese regions and gradually expanding their global market share beyond China," SNE Research said. "Hyundai Motor's new Kona EV model will be equipped with CATL batteries, which will further expand CATL's share of non-Chinese markets."