K-Battery Maintains Top 5 Position Outside China... SK Innovation Emerges as a Strong Player

Domestic Top 3 Battery Companies Achieve Double-Digit Growth
SK Inno Soars 239.7%... Approaching 10% Market Share Milestone

[Asia Economy Reporter Hwang Yoon-joo] The three domestic battery companies ranked in the top 5 for electric vehicle battery usage outside of China. While SK Innovation's rapid growth continues, CATL, which had been perceived as dedicated to the domestic Chinese market, is emerging as a new powerhouse in regions outside China.

According to SNE Research on the 20th, LG Energy Solution, Samsung SDI, and SK Innovation ranked 2nd, 3rd, and 4th respectively in global electric vehicle (EV, PHEV, HEV) battery usage excluding China from January to November 2020. The battery usage counted this time excludes batteries used in electric vehicles sold in China from the global battery usage.

The battery energy amount of electric vehicles registered worldwide excluding China from January to November 2020 was 65.2 GWh, an increase of 44.6% compared to the same period last year.

By company, Panasonic maintained its top position with a stable trend. LG Energy Solution surged by 86.8% to 20.3 GWh, closely chasing Panasonic.

Samsung SDI rose 75.0% to 6.7 GWh, maintaining 3rd place as in the previous year. SK Innovation surged 3.4 times to 6.5 GWh, closing in on Samsung SDI.

CATL jumped to 5th place with the highest growth rate among major companies, fueled by the rapid increase in sales of PSA Group’s pure electric vehicles such as the Peugeot e-208 and Opel Corsa. It is moving beyond its previous status limited to the Chinese market and is showing prominence in markets outside China as well.

The growth of LG Energy Solution, Samsung SDI, and SK Innovation was driven by strong sales of models equipped with their batteries. LG Energy Solution’s growth was led mainly by the surge in sales of Renault Zoe, Volkswagen ID.3, and Porsche Taycan EV. Samsung SDI showed growth supported by increased sales of Audi e-tron EV and Ford Kuga PHEV. SK Innovation’s growth was driven by strong sales of Hyundai Kona BEV and Kia Niro BEV.

Meanwhile, battery usage in November 2020 was 8.6 GWh, an increase of 89.8% compared to the same period last year. LG Energy Solution overtook Panasonic to take 1st place, while SK Innovation and Samsung SDI continued their growth by ranking 3rd and 4th respectively. CATL also maintained remarkable growth continuously.