Korean EV battery makers' global share falls to 27.2% as North American demand drops
South Korean battery producers saw their combined global market share slip to 27.2% in the first seven months, largely due to a sharp decline in North American usage.
According to SNE Research, LG Energy Solution, SK On and Samsung SDI together accounted for 27.2% of global EV battery usage from January to July, down from 37.6% a year earlier. Chinese firms CATL and BYD increased their combined share to 44.6%, while mid-tier Chinese players also grew their presence. The contraction in Korean share is tied to a 42.9% drop in North American battery consumption, following the end of U.S. EV purchase subsidies.
