South Korean battery majors LG Energy Solution, SK On, and Samsung SDI managed to defend combined market share of above 30 percent in the global EV power in the face of escalating competition with Chinese producers.

Bellwether LG Energy Solution was behind 51.3 gigawatts per hour (GWh) in powering electric vehicles hitting the roads worldwide in the first 11 months of 2021, up 90.6 percent on year. It nevertheless yielded the No. 1 rank to CATL of China whose market share increased by 10 percent, according to global market tracker SNE Research.

SK On, the latecomer to battery production among Korean majors, raised its share to 5.7 percent to global No. 5 through aggressive expansion. Samsung SDI contributed to 4.8 percent to come at despite a gain of more than 60 percent.

Their share rose in line with increased EV sales, SNE Research said.

LG Energy Solution owed its growth to strong sales of Tesla Model Y (made in China), Volkswagen ID.4, and Ford Mustang Mach. SK On benefited from robust sales of Hyundai Ioniq 5, Kia Niro EV, and Kia Niro EV6, and Samsung SDI’s steady growth was due to increased sales of Fiat 500 and Jeep Wrangler PHEV.

Their combined share amounted to 32.7% as of November, although losing 5 percentage point from a year-earlier period amid ascension of Chinese brands.

According SNE Research, the total battery energy in electric cars (pure electric cars, plug-in hybrid cars, and hybrid cars) sold in January to November of 2021 increased to 231.2 GWh, more than doubling from a year ago period.

Most Chinese battery companies such as BYD, CALB, and Guoxuan have increased their market share due to the growth of the Chinese market. Panasonic and other Japanese companies performed below the average.

SNE Research predicted bigger rise by Chinese players this year.

By Park Yun-gu, Susan Lee

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