K-Battery Declines 3.4% In January-August Global Share

Until September this year, the share of the three Korean batteries in the global electric vehicle battery market decreased by more than 3 percentage points from last year.

Market research firm SNE Research said battery usage for global electric vehicles was 510.1 gigawatt hours in the January-August period, up 21.7% from the same period last year.

On the other hand, LG Energy Solution, SK On, and Samsung SDI's share was 21.1%, down 3.4 percentage points from last year.

LG Ensol remained in third place with growth of 2.5%, while SK On and Samsung SDI also showed growth of more than 8%, ranking fourth and seventh in global market share, respectively.

Meanwhile, China's CATL and BYD have grown by more than 25% in a year, maintaining their top two global share, while Japan's Panasonic has regressed by more than 22%.

SNE Research analyzed that demand for price-competitive batteries has increased as growth in the electric vehicle market has slowed.