CATL reduces gap with LG Energy Solution
简介South Korean battery makers are feeling the heat from the surge of Chinese competition, as Chinese b ...
South Korean battery makers are feeling the heat from the surge of Chinese competition, as Chinese battery giant CATL continues to expand its global presence outside its home turf.
According to Korean market tracker SNE Research on Thursday, CATL’s worldwide battery usage outside China reached 64 gigawatt-hours from January to September this year, jumping 104.9 percent from the same period last year. The Chinese company’s global market share rose by almost 7 percentage points to be on par with LG Energy Solution’s market share of 28.1 percent.
Despite LG Energy Solution’s 49.2 percent growth in the first three quarters of this year, the Korean company’s global market share dipped 1.1 percentage points from last year’s figure due to CATL’s rise. Other Korean battery makers -- SK On and Samsung SDI -- increased their global battery usage by 13.7 percent and 41.4 percent, respectively, to 24.4 GWh and 21.6 GWh, ranked them as the fourth- and fifth-largest battery makers in the world, respectively.
According to the market tracker, the three Korean companies’ combined global market share decreased by 5.8 percentage points to 48.3 percent.
SNE Research said the global battery installment in electric vehicles logged 228 GWh from January to September, up 54.9 percent on year, as the automakers’ EV sales recorded upbeat numbers.
BYD, the world’s biggest EV manufacturer, dramatically upped its battery usage to 4.1 GWh in the first three quarters of this year, jumping 539.4 percent on year. Farasis Energy, another Chinese battery maker, showed a 158.4 percent growth during the same period to log 3 GWh.
“Chinese companies including CATL are rapidly expanding their global market shares as they show higher growth in markets outside China than the growth rates in the Chinese market,” said SNE Research.
“CATL’s batteries are loaded onto vehicles of major (original equipment manufacturers) such as Tesla Model 3 and Y along with BMW, MG, Mercedes and Volvo. Recently, Hyundai’s new Kona and Kia’s EV Ray have been equipped with CATL’s batteries, expanding the Chinese company’s influence in the domestic market.”
According to an SNE Research report published earlier this week, CATL led the global battery competition including the Chinese domestic market with 36.8 percent, followed by BYD with a 15.8 percent market share. LG Energy Solution came in at third place with a 14.3 percent market share.
Enhypen’s fifth EP charted No. 4 on Billboard 200, according to the chart preview published on Sunda ...
North Korea released scathing criticism filled with abusive language on Monday in response to South ...
LG Group Chairman Koo Kwang-mo reportedly convened some 30 CEOs on Tuesday to discuss the group' ...
- 류호정·장혜영의 ‘세번째권력’ “총선서 30석, 200만 득표가 목표”
- Posco to build joint venture with US grain company
- [Bills in Focus] Holding CEOs accountable for lack of internal financial control
- 러 무기 만져보고 타보고...김정은 '북·러 합작' 도발 메뉴 내놓나
- TBS appeals to Seoul to hold off on slashing support
- Seoul shares open lower on Fed's higher
Trailblazer, Trax drive up GM Korea’s exports
[Korea Beyond Korea] ‘Korea should support Korean history studies, research abroad’
Political strife may delay Korea’s launch of new space agency
'코로나 봉쇄' 북한, 국경 열었다…3년8개월 만에 외국인 입국
Trailblazer, Trax drive up GM Korea’s exports
SKC to build bioplastics plant in Vietnam
- US finalizes national security 'guardrails' for CHIPS funding
- PM to meet with Xi on sidelines of Asian Games in Hangzhou
- [Book Review] 'Lee Kun
- PM arrives in China for Asian Games, meeting with Xi
- Allies vow stern measures against Russia
- "가리비 8m 천장까지 쌓였다"…단 한달만에 日 타격 입힌 中
- Xi says he will consider S. Korea visit
- Surveillance cameras to be a must in hospital operating rooms
- [New in Korean] Ancient Korean mummy unearthed in Irish peatland
- [Korea Beyond Korea] 'Funding drought jeopardizes interest in ancient Korea studies in US'
- Samsung family pays tribute to late founder
- [New in Korean] Seven minds share single body in '7
- Global asset firms flock to Jeonju to woo pension giant
- 전문가 “북 중거리미사일 고체연료엔진, 러시아 기술 가능성”
- Surf's up: Enhypen enjoys the ride with 'Orange Blood'
- S. Korean shares snap 3
- Negotiating members of Indo
- 한총리, 공공기관 전산망 마비에 “인력·장비 총동원 신속복구” 지시
- Chinese beer imports plunge amid Tsingtao scandal
- Woman faces prosecution after demanding marriage from V
- Yoon, Japan's Kishida agree to cooperate in hydrogen sector
- Network error grinds government network to halt, restoration still in progress
- Nightmare before Christmas: 'rape announcement' issued at Seoul billboard
- Yoon attends IPEF summit to discuss regional economic collaboration
- S. Korea secures 5th consecutive term on UNESCO executive board
- Ampers&one hopes to seep into listeners’ hearts with positive music
- Seoul shares open nearly flat despite US gains
- 윤희숙 "20여년 억대 연봉 송영길이 돈 없다? 못된 버릇 때문"
- PM envisions Busan World Expo's role in sharing 'rise from ashes' experience
- Global Kimchi Day declared