Korea’s LG Energy Solution topped car battery market in May, surpassing Chinese CATL
LG Energy Solution overtook CATL and topped in the global battery for electric vehicles market in May this year.
Samsung SDI and SK Innovation ranked 5th to 6th, and all three Korean companies have shown steady growth.
According to SNE Research, a market research firm, the total battery energy of electric vehicles (excluding EV, PHEV, HEV electric buses and electric trucks) registered in the world in May was 19.7GWh. It increased more than 3.3 times compared to the previous year.
The electric vehicle battery market had been contracted by the COVID-19 crisis in the first half of last year, but it has recovered steadily for 11 months. The recovery trend is expected to continue for the time being.
