South Korea Behind Japan & China In EV Battery Race
According to the Korea Economic Research Institute (KERI), the South Korean EV battery manufacturers are lagging behind its biggest rivals from Japan and China.
Latest data indicates that the combined market share of LG Chem and Samsung SDI decreased from 30% in 2014 to 11% in 2018 – “due mainly to a lack of captive buyers”.
On the other hand,
Chinese Contemporary Amperex Technology (CATL) and BYD take advantage of the rapidly growing home market, while Panasonic expands together with its biggest battery customer – Tesla.
Tesla Battery Cells Are Best Value In Class: 20% Cheaper Than LG Chem
The Japanese, Chinese, and South Korean manufacturers control the battery market – having over 80% share according to KERI.
LG Chem, Samsung SDI, SK Innovation has a chance to improve its position when Hyundai Motor Group (Hyundai and Kia) starts volume EV production,
https://insideevs.com/south-korea-behind-japan-china-ev-battery/amp/