The author is an analyst for NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.With lithium prices approaching BEP, a downtrend in LGES’s ASPs should slow. And, led by likely production recoveries at US OEMs, LGES’s sales are primed to rebound from 4Q23 after bottoming out in
Tesla’s Model Y, a five-seat midsize electric sport utility vehicle (SUV), was the top-selling imported vehicle in Korea in September. Purchases of the model swelled as it was loaded with Chinese-made lithium iron phosphate (LFP) batteries which helped lower its retail price, analysts say.According
Ford has decided to suspend the construction of an automotive battery plant in Michigan with Chinese battery maker CATL. Strong opposition from U.S. lawmakers to Chinese companies building battery production facilities in the United States to circumvent the U.S. Inflation Reduction Act (IRA) is the
In the first half of this year, China’s CATL has seized a market share close to 33% in the global electric vehicle battery market, surpassing the combined market share of the top three South Korean battery manufacturers.According to energy market research firm SNE Research, global battery sales for
The large-scale imports of Chinese-made vehicles and batteries is expected to have a significant impact on the domestic car market and parts industry in Korea. The increase in Chinese imports can be attributed to competitive pricing, driven in part by rising raw material costs.Experts argue that whi
Tensions are escalating in the battery market as Chinese companies consistently establish factories in the U.S., leading to some speculating that the Biden administration’s electric vehicle policy has shifted from a “complete exclusion” of China to a “partial allowance.”According to foreign media an
Last year, due to the surge in demand for electric vehicles (EVs), prices of core battery minerals like lithium and nickel reached a peak. However, they have been on a decline recently. Battery cathode material companies that purchased these minerals when they were expensive are now facing challenge
A significant trend among global automakers is the incorporation of China-made lithium iron phosphate (LFP) batteries, known for their affordability. With the growing market share of LFP batteries, concerns are rising about a potential crisis for the “top 3 South Korean battery manufacturers.” Howev
China is devising strategies to bypass the United States in both semiconductor and electric vehicle (EV) battery sectors. As the Joe Biden administration seeks to exclude China through the Inflation Reduction Act (IRA), Chinese companies are entering full-fledged efforts to neutralize the U.S. block
Due to intensified endeavors by Chinese battery manufacturers in Europe and North America, the market share of Korea’s big three battery companies has dropped below 25%.Market research firm SNE Research reported on Sept. 5 that from January to July this year, the market share of LG Energy Solution,
According to a recent survey, South Korean companies, which have secured the top position in major industry products and service sectors worldwide, have now risen to the third spot along with Japanese companies in terms of global market share.In its 2022 self-conducted survey of market share in 63 m
Korean battery materials companies are expediting the development of cathode materials for low-cost lithium iron phosphate (LFP) batteries with a market dominated by China.According to industry sources on Sept. 3, Korean battery makers are targeting volume production of cathode materials for LFP bat
Chinese lithium iron phosphate (LFP) batteries will be brought to Korea in large numbers. As electric buses and electric scooters that use LFP batteries have penetrated the Korean market, major automakers are also expanding the volume of Chinese-made LFP batteries for electric vehicles. The problem
SK Group has embarked on the sale of its stake in Londian Wason, the parent company of the world’s largest copper foil manufacturer Wason. This move comes approximately four years after its initial investment in 2019 and if successful it is expected to realize profits of around 1 trillion won (US$75
Korean materials companies are considering launching research about LFP cathode materials, but this is the first time they have officially announced that.EcoPro BM and POSCO Future M started developing LFP cathode materials in earnest from the second quarter of this year, according to their semi-ann
Growing demand for batteries is fueling competition for key minerals. In the meantime, countries and companies leading electrification are divided over whether to utilize deep-sea resources. China, which asserts that the deep sea can be an efficient source of minerals, is faced with opposition from
Midsize domestic automakers gearing up for electric vehicle production in South Korea are actively seeking partnerships with overseas battery suppliers from countries like China and Japan. This move comes as South Korean battery manufacturers, including the top three, are increasing their overseas i
China-based CATL, the world’s leading electric vehicle battery company, has unveiled a lithium iron phosphate (LFP) battery that can cover up to 400 km on a 10-minute charge. With the increasing adoption of LFP batteries in the global electric vehicle market, the news has caught the attention of Sou
Samsung SDI is set to construct a lithium iron phosphate (LFP) battery production line at its Ulsan factory, marking the first of its kind in South Korea.According to industry and government sources on Aug. 16, Samsung SDI is in discussions with the Ulsan city officials about building a next-generat
An analysis has emerged indicating that LG Energy Solution’s market share is catching up with CATL in the battery market, excluding China, for the first half of this year.According to SNE Research on Aug. 7, LG Energy Solution maintained its top position in terms of market share in the global batter