SK Inno Surpasses Samsung SDI in Battery Market Share for the First Time in April

LG Chem Maintains No.1 Position for January-April Cumulative Period

[Asia Economy Reporter Hwang Yoon-joo] SK Innovation surpassed Samsung SDI in global market share for electric vehicle batteries for the first time in April this year. Despite the contraction of the electric vehicle market due to the COVID-19 pandemic, all three domestic electric vehicle battery companies maintained their positions in the global top 10.

According to SNE Research on the 16th, China’s CATL ranked first with 34.9% as of April. It was followed by LG Chem (18.2%), Panasonic (13.4%), BYD (10.2%), SK Innovation (3.5%), and Samsung SDI (3.4%).

In April this year, SK Innovation’s global electric vehicle battery usage reached 189.1 MWh, slightly ahead of Samsung SDI’s 187.2 MWh. Aggressive sales efforts, including orders from Beijing Electric Vehicle in China, and the start of electric vehicle battery production at the Changzhou plant from June contributed to the increase in market share.

LG Chem ranked second with 988.1 MWh (18.2%), competing closely with the leader CATL of China (1,896.6 MWh).

Based on cumulative data from January to April, LG Chem’s electric vehicle battery usage surged 91.0% to 6.6 GWh, rising from fourth place last year to first place. Samsung SDI increased by 18.9% to 1.5 GWh, moving up one rank to fifth, while SK Innovation recorded a 74.3% increase to 1.1 GWh, climbing two ranks.

On the other hand, the total energy volume of other global electric vehicle batteries was 26.0 GWh, down 20.7% compared to the same period last year. This decline was due to stagnation in major markets including China, the United States, and Europe.

Panasonic, ranked second, saw a 14.9% decrease year-on-year due to reduced supply volumes for all Tesla models. Most Japanese and Chinese companies also failed to escape poor performance.

The growth of the three domestic battery companies is attributed to increased sales of models equipped with their batteries. LG Chem’s strong sales of Renault Zoe, Tesla Model 3 (China-made), and Audi E-tron EV led to rapid growth.

Samsung SDI recorded growth supported by strong sales of Volkswagen e-Golf, BMW 330e, and Passat GTE. SK Innovation’s growth was driven by strong sales of Hyundai Porter 2 Electric, Kia Bongo 1T EV, and Soul Booster.

Looking at the market shares of battery companies, all three domestic companies saw their shares increase, with the total market share rising to 35.3%, more than double the 16.2% from the same period last year.

Japanese companies Panasonic and PEVE saw their shares increase as their decline rates were below the market average. However, except for AESC and CALB, Chinese companies experienced decline rates significantly above the market average, resulting in decreased market shares. The increased shares of AESC and CALB were due to their decline rates being lower than the market average.

Meanwhile, global electric vehicle battery usage in April 2020 was 5.4 GWh, a sharp drop of 39.8% compared to the same period last year. The major cause was the significant contraction of the US and European markets due to the impact of the novel coronavirus, with the Chinese market also remaining sluggish. Most companies experienced negative growth, and the three Korean companies showed signs of slowed growth or decline due to the stagnation in the US and European markets. However, as the US and European markets are expected to gradually recover from the impact of COVID-19, the three Korean companies are also anticipated to regain growth momentum.

This content was produced with the assistance of AI translation services.