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LG Energy Solution Topped the Ex-China Global Electric Vehicle (EV) Battery Market in the Jan-Mar Period
  • Date  2021-05-20

LG Energy Solution Topped the Ex-China Global1 Electric Vehicle (EV) Battery Market2 in the Jan-Mar Period

-       Growth of Samsung SDI and SK Innovation set to remain robust despite rapid rise of CATL

 

LG Energy Solution claimed the top spot in the ex-China global xEV (EV, PHEV, HEV) battery market for Jan-Mar 2021. Growth of Samsung SDI and SK Innovation set to remain robust, and all made into the top 5 list of EV battery manufacturers. China’s CATL was rapidly emerging as an EV battery powerhouse in markets outside China, posing a threat to the Korean battery makers.

 

The illustrated data covered battery capacity deployed in EVs newly sold in markets outside China.

 

In Jan-Mar 2021, a total of 25.4 GWh of battery capacity was deployed into EVs newly sold in markets outside China, up 68.0% from a year earlier.

 

LG Energy Solution ranked first in the Jan-Mar period, supplied 7.9 GWh equivalents of EV batteries and up 82.4% from a year earlier. Panasonic ranked second, up 52.6% compared to a year ago.

 

 


 

(Source: Global EV and Battery Monthly Tracker – May 2021, SNE Research)

 

Samsung SDI supplied 2.5 GWh equivalents of EV batteries in the Jan-Mar period, up 58.0% and retained the third place, same as a year ago.

 

SK Innovation supplied 2.4 GWh equivalents of EV batteries in the Jan-Mar period, more than doubled compared to the same period last year.

 

CATL ranked fourth with 2.5 GWh supplied in the Jan-Mar period, capturing 9.9% of the EV battery market outside its home turf. A year earlier, its share outside China was only 5.5%. It had been showing drastic growth outside the home ground, boosted by strong sales of not only Tesla Model 3 (exports from China), but also PSA Group’s EV models like Peugeot e-2008 and Opel Corsa. In the local market, CATL was foreseen to continue enjoying a key advantage over international competitors. In anticipation of intensifying domestic competition and stronger growth outside of China, CATL strived to go abroad to compete head-to-head with global peers in the global marketplace.

 

The robust growth of South Korean’s EV battery trio was contributed by the steady EV sales. LG Energy Solution was propelled by brisk sales of Volkswagen ID.3 and ID.4, and Ford Mustang Mach-E. Samsung SDI was benefitted from the sales of Audi E-tron EV, Fiat 500, and Ford Kuga PHEV. SK Innovation’s growth was mainly contributed by the increase in sales of Kia Niro BEVs and Hyundai Kona BEVs.

 

 


 

(Source: Global EV and Battery Monthly Tracker – May 2021, SNE Research)

 

In Mar 2021, the ex-China global EV battery market recorded a 112.0% growth year-on-year, with 12.1 GWh of battery capacity deployed in newly sold EVs.

 

LG Energy Solution surpassed Panasonic capturing the top spot in Mar 2021, while Samsung SDI and SK Innovation enjoyed a significant triple-digit growth during the period. CATL had steadily expanded its market share, moved beyond China to other markets showing a growth rate of more than five-fold.

 

South Korea’s EV battery trio is expected to face stiff competition from their Chinese rivals going forward, according to Kenny Kim, CEO of SNE Research. It is foreseen that CATL will continue to cement its standing as China’s leading battery supplier, threatening other battery manufacturers’ foothold in the global EV battery market. While anticipating the competition in the EV battery market will get fiercer, Kenny emphasized the importance for the Korean EV battery makers to differentiate their strategies and continue cultivating their fundamental competitiveness.