On February 19, South Korea's "Global Economy" published an article saying that the global use of electric vehicle batteries increased by nearly 40% last year, and South Korean batteries also showed a growth trend. However, Chinese battery companies are the top two, and the gap with South Korean battery companies has further widened.
According to data released by SNE Research, from January to December last year, the total battery usage of electric vehicles registered in various countries around the world was about 7055 GWh, an increase of 386%。
South Korea's three battery companies also saw an increase in battery usage, but with a share of 231%, down 16 percentage points. LG Energy Solutions ranked third, up 338%（95.8 gwh）。SK ON and Samsung SDI grew by 14 each4%（34.4 GWh) and 361%（32.6 GWh), in fifth and seventh place, respectively.
This growth was driven by good sales of vehicles equipped with batteries from each company and an increase in the number of new vehicles launched.
The growth of Chinese manufacturers is even more pronounced. CATL increased by 40 percent year-on-year8%（259.7 GWh), ranking first in the world. share from 36 in 20222% widened to 36 percent last year8%。
BYD with 579%（111.4 GWh) in second place, surpassing LG Energy Solutions, which ranked second in 2022. Share from 139% to 158%。
SNE Research expects that although the growth momentum of the electric vehicle market slowed down last year compared to 2022, it will continue to grow in the medium to long term.
"South Korean battery companies will make significant investments to remain competitive in the long term and continue to improve profitability by focusing on the North American market, where EV penetration is relatively low," SNE Research said. ”
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