Company: Global market share of Korean battery manufacturers decreases in first half! NINGDE TIMES takes the top spot with a 37.9% market share, while LG Energy Solution ranks third

Data released on Monday shows that although global electric vehicle battery usage increased by 37.3% year-on-year in the first half of this year, the global market share of Korean battery manufacturers actually decreased compared to last year.

According to data from the energy market tracking agency SNE Research, global electric vehicle, plug-in hybrid electric vehicles (PHEV), and hybrid electric vehicles (HEV) battery usage totaled 504.4 GWh in January-June, a year-on-year increase of 37.3%.

Korean battery manufacturers LG Energy Solution, SK On, and Samsung SDI saw their market share decrease by 5.4 percentage points compared to last year, with a combined market share of 16.4%.

Among them, LG Energy Solution maintained its third spot with 47.2 GWh of battery usage, up 4.4% year-on-year, and held a global market share of 9.4%. SK On came in fifth place with 19.6 GWh of battery usage, up 10.7%, accounting for 3.9% of the global market.

On the other hand, Samsung SDI's battery usage was 16 GWh, down 8%, and its global market share decreased from 4.7% to 3.2%. The main reason for this decline is the weakening demand for batteries in Europe and North America.

Meanwhile, Chinese battery manufacturers continued to expand their market share thanks to strong price competitiveness. NINGDE TIMES (300750) maintained its leading global position with a 37.9% market share and 190.9 GWh of battery usage.

SNE Research notes that the global battery market is undergoing rapid supply chain restructuring, with increasing regulatory pressure in the US and Europe, and urges industry participants to strengthen their technical capabilities and flexible procurement strategies.