CATL Lost The First Throne Of Global Power Battery Share

- May 13, 2020-

CATL Lost the First Throne of Global Power Battery Share

Recently, the latest report from the research institute SNE Research shows that LG Chem ranked first with a market share of 27.1% of the global electric vehicle (EV) battery usage in the first quarter of 2020.

The report points out that LG Chem ’s market share has more than doubled compared to the same period in 2019, surpassing Panasonic ’s share (25.7%); CATL ranked third with a market share of 17.4%, compared with 2019 The year-on-year decline of 23.4% was larger; the fourth place was Samsung SDI, with a market share of 6%; the market share of AESC, a subsidiary of China Yuanjing Energy Co., Ltd., increased (5.6%), ranking No. Five; BYD ranks sixth with a market share of 4.9%, which is a sharp drop of 10.2 percentage points compared with 15.1% in the same period of 2019.

It is reported that LG Chem installed 5.5GWh of global power batteries in the first quarter of 2020, compared with 2.5GWh in the same period in 2019. SNE Research believes that LG Chem's achievements benefit from the strong sales of Tesla Model 3, Renault Zoe EV and Audi e-tron.

According to global EV sales data released by EV Sales, Tesla Model 3 sales in the first quarter of 2020 were 89,923 units, up 75% year-on-year. Some organizations expect that LG's chemical battery business revenue will exceed 90 billion yuan in 2020, up 79% year-on-year.

In addition, the combined market share of South Korea ’s three major electric vehicle battery manufacturers LG Chem, Samsung SDI and SK Innovation also jumped to 37.5% in the first quarter of 2020, a substantial increase from 16.4% in the same period of 2019 .

SNE Research pointed out in a report that the global lithium-ion battery market is worth about USD 43.4 billion in 2019 and is expected to grow at a rate of more than 16% during 2020-2026. Another agency predicts that by 2025, the market demand for power batteries will reach 94.4 billion US dollars.