The Korea Herald


[Graphic News] Korea’s top 3 EV battery makers show sluggish sales growth

By Nam Kyung-don

Published : July 19, 2022 - 10:00

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Korea’s Electric Vehicle Battery industry showed slow sales growth as its global market share in the first five months dropped by 9.5 percentage points from last year, according to the battery industry tracker SNE Research’s June report.

LG Energy Solution, the country’s top battery maker, took 14.4 percent of the market. The figure shrank by 9.2 percentage points from last year’s 23.6. Samsung SDI’s share also went down by 1.5 percentage points from 5.9 percent in a year. Of them, only SK On saw an increase, from 5.2 percent to 6.8 percent.

Battery usage of each Korean company went up in line with global market growth, which ballooned by 77.3 percent. But sales growth was dwarfed by those of Chinese companies. CATL, the world No. 1, saw
its share grow from 28.3 percent to 33.9 percent. And that of BYD, another Chinese battery maker, nearly doubled to 12.1 percent.