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[Graphic News] Korea accounts for 31% of global EV battery market in Q1

Three South Korean electric vehicle battery makers accounted for 31 percent of the global market in the first quarter, but their market share has slipped since last year in the face of tougher competition from Chinese rivals, a market research firm said.

The trio - LG Energy Solution, Samsung SDI and SK Innovation - supplied a combined 47.8 gigawatt-hour equivalents of EV batteries in the January-March period, up 127 percent from a year earlier, according to the data by SNE Research.

Their sales of EV batteries sharply rose in line with solid demand for battery-powered vehicles by major automakers, but the combined share declined from last year’s 37.8 percent as Chinese manufacturers expanded their presence on their home turf, the world’s top EV market. (Yonhap)

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