LG Energy Solution Remained Top in Non-Chinese Global[1] EV Battery Usage[2] from Jan to September 2022
- The K-trio recorded 56.0% of market shares combined, while the Chinese makers boasted a ‘rapid growth,’ with CATL ascending to 2nd place
In
the ranking of battery installation for global electric vehicles (EV, PHEV,
HEV) excluding the Chinese market sold from January to September in 2022, Korea’s
LG Energy Solution stayed on top of the list, and SK-On and Samsung SDI safely
landed in the top 5 list. The combined market shares of K-trio recorded 56.0%, staying
in an upward trend.
This
tally excludes the usage of batteries installed in electric vehicles sold in China
from that of the global market.
From
January to September 2022, the amount of energy held by batteries for electric
vehicles registered worldwide except in China was 145.0GWh, 40.4% YoY increase.
By
company, LG Energy Solution kept the No. 1 position with a 18.4% increase to
43.77GWh. CATL, one of the Chinese battery makers, climbed to be the 2nd
place, recording a magnificent 112.4% growth and outperforming Panasonic even
in the non-Chinese market.
(Source: Global EV and Battery Monthly Tracker – October 2022, SNE Research)
(Source: Global EV and Battery Monthly Tracker – October 2022, SNE Research)
SK-On
recorded 21.2GWh, a 95.8% YoY growth, and saw its market share increased by
4.1%p.
Samsung
SDI ranked 5th with 16.3GWh, a 64.8% YoY increase.
The
combined market shares of K-trio were 56.0%, a slight increase by 0.2%p
compared to the same period of last year.
On
the other hand, the Japanese battery manufacturers such as Panasonic, PEVE, and
LEJ showed a relatively sluggish growth. Except LEJ, the other Japanese makers
saw their market shares declined from the previous year.
Unlike
the Japanese counterparts, some of the Chinese manufacturers including CATL have
been enjoying a triple-digit high growth which should be described as ‘explosive’
in growth. CATL finally captured the 2nd place with a nearly 2.1
times growth from previous as BEV sales including Tesla Model (made in China
and exported to Europe, North America, and Asia), Mercedes-Benz EQS, BMW iX3, and
Cooper increased. Sunwoda ranked 8th as the demand for Dacia Spring
Electric by Renault in Europe increased.
The upward
trend found in the K-trio was mainly led by strong sales of electric vehicle models
equipped with batteries of each company. LG Energy Solution’s growth was based
on the steady sales of Volkswagen ID.4, Tesla Model 3 and Y, and Ford
Mustang Mach-E. SK-On enjoyed a high growth based on the popularity of Hyundai
Ionic 5, and KIA EV6. With a recent launch of new model like Ionic 6, SK-On got
boosted in its growth. Samsung SDI
was backed by solid sales of Audi E-Tron line-up, BMW i line-up, PIAT 500, and Jeep
Wrangler PHEV.
(Source:
Global EV and Battery Monthly Tracker – October 2022, SNE Research)
Meanwhile,
battery installation in September 2022 was 22.0GWh, a 33.4% YoY increase.
By
company, LG Energy Solution remained top on the list, and SK-On and Samsung SDI
showed a double-digit growth. CATL from China, with a growth rate of 68.6%, recorded
4.6GWh, chasing the frontrunner, LG Energy Solution. Sunwoda and CALB
maintained their upward trend, entering the top 10 list. CALB, in particular, showed
the highest growth among the top 10 companies, a dramatic increase from 0.48MWh
in the same month of last year to 83.95MWh in September 2022.
Same
as last year, LG Energy Solution ranked 1st from January to
September 2022 in the non-Chinese market. However, those explosive growths exhibited
by the Chinese makers such as CATL and Sunwoda made the competition with the
K-trio much fiercer. Recently, movements in the market to escape from China by lowering
dependence on the Chinese makers have been detected in response to the enactment
of Inflation Reduction Act in the US. More attentions should be paid to whether
the movements to escape from Chinese products may have impacts on the
non-Chinese market down the road.
[2] Based on battery installation for xEV registered during the relevant period.