On March 2nd, according to foreign media reports, in January of this year, LG Energy Solution became the world's second largest supplier of electric vehicle (EV) batteries, second only to lithium-ion battery manufacturer CATL.
In the global electric vehicle battery market, the top five are CATL, LG Energy Solutions, Panasonic, BYD, and Samsung SDI.
In this market, the Korean power lithium battery companies LG Chem and CATL are competing for the top position. In order to vigorously develop the battery business, seize the development opportunity of electric vehicle batteries, and enhance the value of the company and its shareholders, LG Chem has split its battery business.
Market tracking agency SNER Research stated that in January of this year, the global supply of electric vehicle batteries reached 13.7 GWh, almost double the same period last year. Among them, CATL's supply volume was 4.3GWh, an increase of 166.2% year-on-year, and its market share was 31.2%.
In December last year, the tracking agency said that from January to September last year, the installed capacity of power lithium batteries of CATL was 19.2GWh, accounting for 23.1% of the total installed capacity of power lithium batteries (83GWh), ranking first in the world, while LG Chem ranked second with 18.9GWh (22.9% of the total installed capacity).
Following CATL closely is LG Energy Solutions, which shipped 2.5GWh of electric vehicle batteries, an increase of 50.6% year-on-year. However, the company's global market share has decreased from 23.9% in the same period last year to 18.5%.
It is reported that LG Energy Solutions is a new company that was spun off from LG Chem, a Korean power lithium battery company, in December last year, and is specialized in battery business. After the spin off, LG Chem will hold 100% of the equity of the new company.
Panasonic, BYD, and Samsung SDI have market shares of 15.6%, 8.9%, and 4.8%, respectively, ranking third, fourth, and fifth.