The market share of the three major Korean battery companies fell slightly in the first quarter of this year.The trio’s combined share stood at 24.7 percent in the first quarter of this year, down 1.3 percentage points from 26 percent a year ago, according to SNE Research, a market research firm spe
SKIET announced on April 1 that it has signed a memorandum of understanding (MOU) on strengthening cooperation including the supply of battery separators with Sunwoda, the ninth-largest company in the global battery market.SKIET will supply separator products produced at its Changzhou plant to Sunwo
Toyota will square off with Hyundai Motor Group by launching the brand’s first electric sedan, the bZ3, in partnership with the Chinese auto industry.According to the automobile industry on April 24, Toyota launched the bZ3, an electric vehicle, in China on April 18 in time for the opening of the Sh
An increasing number of governments are controlling the supply of EV battery minerals such as lithium and nickel.The examples include Chile. The Chilean government announced on April 20 that its lithium industry would be nationalized. Chile has the largest lithium reserves and is the second-largest
Hyundai Motor Group, which re-entered the Japanese market last year after 13 years, faced difficulties again. Starting with the IONIQ 5, a dedicated electric vehicle that received favorable reviews in the global market, it knocked on the door of the Japanese market again, but it has not produced any
At the beginning of 2023, the three major Korean battery makers have been cruising with high growth rates compared to the previous year. However, as Chinese companies showed explosive growth, LG Energy Solution was pushed down to third place.According to SNE Research on March 30, total batteries in
Korean battery makers announced a shared goal to expand the energy storage system (ESS) battery market. The companies are planning to compete in earnest with Chinese companies dominating the ESS market by waging a price war.LG Energy Solution has succeeded in developing lithium ferrophosphate (LFP)
Korean battery makers which have been struggling in a battery price war with their Chinese competitors have begun to strike back. SK On succeeded in producing a prototype of lithium ferrophosphate (LFP) batteries in which China had previously taken the lead. The Korean battery maker even addressed t
Hyundai Motor Group was ranked sixth in global electric vehicle (EV) sales in 2022The number of EVs registered worldwide stood at 10.83 million units in 2022, chalking up a 61.3 percent increase from 6.71 million in the previous year, SNE Research said on Feb. 13. The figure is the sum of battery el
Market research firm SNE Research announced on Feb. 8 that the global electric vehicle (EV) battery market share of LG Energy Solution, Samsung SDI and SK On fell from 30.2 percent in 2021 to 23.7 percent in 2022.Specifically, LG Energy Solution’s market share fell from 19.7 percent to 13.6 percent,
The Korea Automobile Manufacturers Association announced on Jan. 25 that car exports from China increased 54.4 percent to 3.11 million units last year. Japan’s exports totaled 3.2 million from January to November and China came in second by beating Germany (2.61 million). South Korea is likely to be
Hyundai Motor Co. is revving up its efforts to penetrate the Association of Southeast Asian Nations (ASEAN) market based on its Indonesian plant, which started operating last year.Hyundai Motor Manufacturing Indonesia (HMMI) rolled out 82,416 units in 2022, according to the Indonesian Automobile Man
Major Korean industries such as displays, batteries and shipbuilding are facing a threat from China.Chinese companies are overtaking Korean companies in the global market by increasing their price competitiveness based on support from the Chinese government.The combined global market share of the th
China’s CATL, the world's largest battery maker, has joined hands with Japan's Toyota to enter the Japanese market in earnest. CATL announced on Nov. 11 that it has recently signed a memorandum of understanding (MOU) with Japan's Daihatsu Motor Co. for battery supply and technology coope
Market research firm SNE Research announced on Nov. 3 that the global EV battery usage was 341.3 GWh for the first three quarters of this year, up 75.2 percent from a year ago.The growth was led by Chinese EV battery suppliers, including CATL and BYD. The market share of CATL, the largest company in
Market research firm SNE Research said on Oct. 6 that the global EV battery usage was 287.6 GWh in January to August this year, up 78.7 percent from a year ago.The use of CATL EV batteries increased 114.7 percent year on year to 102.2 GWh and the company’s market share rose from 29.6 percent to 35.5
LG Energy Solution plans to mass-produce pouch-type batteries using a cell-to-pack (CTP) approach from 2025.Earlier, CATL announced that it would apply CTP technology to lithium iron phosphate (LFP) batteries next year to produce a product that can power an electric vehicle to run 1,000 km on a sing
Korean automobiles posted a global market share of 7.7 percent in the first half of this year, down 0.2 percentage points from 7.9 percent in the first half of last year, according to a report released by the Korea Automobile Manufacturers Association (KAMA) on Sept. 18.Korean carmakers increased th
China’s BYD, the world’s second-largest electric vehicle (EV) maker and third-largest battery maker, has selected Thailand as its first overseas plant construction site. It aims to preempt the Southeast Asian EV market, which is expected to grow rapidly. A fierce battle is expected between BYD and H
Market research firm SNE Research announced on Sept. 13 that CATL posted sales of US$13 billion in the first half of this year, when those of LG Energy Solution, Samsung SDI and SK On were US$5.84 billion, US$2.98 billion and US$2.07 billion, respectively.The three South Korean EV battery manufactur