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LG Chemical Took the 1st Place in Global Electric Vehicle Battery Shipment During January ~ August 2020
  • Date  2020-10-07

 

Title : LG Chemical Took the 1st Place in Global[1] Electric Vehicle Battery Shipment[2] During January ~ August 2020

 

- Samsung SDI and SK Innovation held 4th place and 6th place, respectively  

 

LG Chem has continued to grow rapidly by maintaining the first place in battery shipment for global electric vehicles (EV, PHEV, and HEV) that were sold during January ~ August 2020. Samsung SDI and SK Innovation also held the fourth and sixth place, respectively. All three companies remained firmly in the top 10 position. Despite the impact of the Corona virus, the three Korean companies are continuing to grow.

 

During January ~ August 2020, the total amount of global battery shipment for electric vehicle was 64.7 GWh, down 9.9 percent from 71.8 GWh year-on-year, because demand for electric vehicles decreased in the first half of this year, especially in major markets such as China and the U.S.

 

Major companies in Japan and China, such as CATL and Panasonic, are mostly still in reverse growth. However, CALB is the only Chinese company that showed rapid growth rate.

 

In comparison, all three Korean companies posted double-digit surges, consolidating their position in the market.

 

LG Chem’s shipment was 15.9GWh and moved up from 4th place (2019 1~8) to 1st place.

 

Samsung SDI's shipment was 5.1GWh, up 57.5% year-on-year.

 

SK Innovation’s shipment was 2.7GWh, which has more than doubled year-on-year.

 

 

 

(source: 2020.Oct Global EV and Battery Shipment Tracker, SNE Research)

 

 

 

 

  (source: 2020.Oct Global EV and Battery Shipment Tracker, SNE Research)

 

 

 

 

Increased sales of models equipped with each company's battery resulted in the growth of the three companies, such as Tesla Model 3, Renault Zoe, and Porsche Taycan EV. Samsung SDI has shown steady growth thanks to increased sales of Audi E-Tron EV, Ford Kuga PHEV and BMW 330e. SK Innovation's shipment has rapidly increased thanks to strong sales of Kia Niro EV, Hyundai Porter 2 Electric and Soul Booster.

 

All three Korean companies took total 35.1% of the market share from 16.2% year-on-year.

 

On the other hand, Japanese companies’ overall market share has decreased as Panasonic and PEVE’s market share has reduced.

 

Despite the increase in CALB’s market share, the Chinese overall market share has decreased, as all the rest of the companies’ market share has reduced. 

 

Overall, the totaled market share of the top six companies, including all three domestic companies, took 84.1% of market share, up 4.1% compared to the period of January ~ August 2019 (80.0% CATL, Panasonic, BYD, LG Chem, Samsung SDI, and AESC). From this, we can see that the gap between top companies and the others is widening. Kenny Kim, CEO of SNE Research said "As certain top companies are increasingly dominating the global electric vehicle battery market, polarization is becoming more serious across the industry," He added that it would be even more difficult for non-mainstream or start-up companies to establish their market positions in the future.

 

 

 

 

 

 (source: 2020.Oct Global EV and Battery Shipment Tracker, SNE Research)

 

 

 

Meanwhile, global battery shipment for EV increased 41.3% and reached 10.8 GWh in August 2020, from 7.7 GWh year-on-year. While the Chinese, U.S. and European markets all grew by more than two digits, and many companies including Korean three companies led the rapid market growth.

 

Despite the Corona crisis, the three Korean companies have steadily defended themselves. Moreover, there is the possibility that they may gradually enter a phase of high growth. To support this, they need to closely monitor the market flow and actively to enhance competitiveness and to inspect growth engine.

 


 


 

 

 

[1] Electric vehicles sales in 76 countries

[2] Battery usage for Electric Vehicle registered in the period