Chinese electric vehicle giant BYD is set to make its InterBattery debut in Seoul, aiming to flaunt its technological prowess on the home ground of its Korean rivals.
According to industry sources on Tuesday, BYD plans to set up an exhibition space to showcase its battery technology at Korea’s largest battery event, scheduled from Mar. 5 to 7 in Gangnam, Seoul.
While the company has not disclosed specifics, it highlighted on the InterBattery website that its product lineup spans various battery form factors, including soft pack batteries, steel shell batteries and cylindrical batteries.
Notably, BYD is expected to introduce its flagship Blade Battery, which uses lithium iron phosphate chemistry. Although it offers lower energy density than the nickel, cobalt and manganese batteries of its Korean competitors, it is considered safer, as it reduces the risk of overheating, fire and explosion.
BYD’s booth will be opposite LG Chem and Lotte Chemical, the nation’s major battery materials suppliers, both of which are also participating in the event for the first time. The Chinese company’s booth will cover 36 square meters, smaller than the 540 square meters each occupied by LG Energy Solution and Samsung SDI, and SK On’s 450 square meters.
While BYD’s presence is not extensive this year, its penetration into the Korean market is "concerning," a source said.
This year’s InterBattery event boasts a record number of 646 companies, up 11.6 percent from 579 in 2024. Among them, 130 are foreign entities, with 79 being Chinese companies, reflecting their growing presence from 24 in 2023 to 62 last year.
Chinese EV and battery makers are also strengthening their foothold in the global market. According to market tracker SNE Research, China’s CATL and BYD have secured the top two positions worldwide. Their combined market share rose from 52.5 percent in 2023 to 55.1 percent last year, whereas the Korean battery trio – LG Energy Solution, Samsung SDI and SK On – saw a decline from 23.1 percent to 18.4 percent.
hyejin2@heraldcorp.com
