Korean Makers' Combined Market Share Drops Sharply

The three Korean battery manufacturers suffered a sharp drop in their combined share of the global market in the first three quarters of this year.

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 the industry, amounted to 35.1 percent, up 4.4 percent year on year.

The combined market share of three South Korean manufacturers fell 7.3 percentage points to 25.2 percent in spite of their growth. The use of LG Energy Solution batteries increased 14.1 percent to 48.1 GWh and those of SK On and Samsung SDI batteries increased 92 percent and 65.1 percent to 21.2 GWh and 16.6 GWh, respectively.

In September, the global usage was 54.7 GWh, more than 1.6 times the figure recorded in the same month of the previous year.

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