Korean Battery 3 Companies Hold 31% Market Share in Electric Vehicle Battery Sales

The three domestic battery companies accounted for approximately 31% of the global electric vehicle battery sales revenue in the first half of this year.

On the 21st, SNE Research announced that the sales performance of electric vehicle battery manufacturers in the first half of this year was 432 GWh, and the market size based on battery packs was $70 billion (approximately 93.583 trillion KRW).

China's CATL maintained its leading position with a market share of 29% by revenue and 33% by shipment volume. The three domestic companies ranked within the top five in market share by revenue: LG Energy Solution (16%), SK On (8%), and Samsung SDI (7%).

BYD is showing high growth in the electric vehicle market. Through vertically integrated SCM (Supply Chain Management) including battery supply and electric vehicle manufacturing, BYD recorded a market share of 9% by revenue and 11% by shipment volume, ranking third.

Panasonic, having a structure with a high proportion of battery supply to its key customer Tesla, recorded a market share of 4% by revenue and 5% by shipment volume, ranking sixth.

SNE Research analyzed that there is a significant difference in scale among companies when looking at sales and shipment volumes by manufacturer. SNE Research stated, "Although the growth of the electric vehicle market is slowing due to the recent global economic slowdown, electric vehicle demand is expected to steadily increase due to the mid- to long-term trend of transition to electric vehicles."

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