LG Energy Solution ranks 2nd in worldwide battery usage 

LG Energy Solution ranked second in worldwide electric vehicle battery usage in 2020, market research firm SNE Research said.

China’s CATL was ranked first with 24% market share, followed by LG Energy Solution’s 23.5%.

LG’s market share doubled from 2019, allowing it to surpass Panasonic, now ranked third, in ranking.

Samsung SDI ranked fifth with 5.8% market share and SK Innovation sixth with 5.4%.

The three South Korea EV battery makers combined had a market share of 34.7%.

Samsung SDI’s usage jumped 85.3% on-year while SK Innovation’s increased 274.2%.

Market shares of Chinese companies, except CATL, and Japanese companies fell.

Last year, 142.8GWh of EV battery were used, a growth of 21% from 2019. Demand for EVs dropped in the first and second quarters of 2020 but began to recover in the third quarter.

LG Energy Solution’s growth was helped by strong sales of Tesla Model 3 for China, Renault Zoe and Volkswagen ID.3, which uses its batteries.

Samsung SDI was helped by Audi e-tron, Ford Kuga PHEV and Volkswagen Passat GTE. SK Innovation’s was boosted by Hyundai Kona EV for Europe and Kia Niro EV.

In December, 25.8GWh of EV batteries were used, a rise of 52.1% on-year.