One in two EV batteries worldwide is made in China… Accelerated dominance of overseas markets

*This content was translated by AI.View Original

In the global electric vehicle battery market, Chinese battery manufacturers have surpassed a 50% share of overseas markets with a 56.4% stake, rapidly expanding their influence, while the overseas positions of South Korea's top three battery companies have significantly shrunk.

According to energy research firm SNE Research, from the first quarter to the third quarter this year, the total installation volume of major Chinese battery companies in global markets excluding China reached 426.7 gigawatt-hours, a 24.7% increase year-on-year. The overseas market share of China's top six battery manufacturers reached 56.4%, meaning that more than one in two electric vehicles worldwide is equipped with a Chinese-made battery.

In contrast, the combined market share of South Korea's three major battery companies—LG Energy Solution, SK On, and Samsung SDI—in markets outside China plummeted by 11.7 percentage points from the previous 38.2% to 26.5%. During this period, the overseas battery installation volume of the three Korean companies also stood at just 113 gigawatt-hours, a 13.5% decrease year-on-year, as they took direct hits from slowing demand in the North American market and deteriorating external conditions. Japan's Panasonic also struggled, with its installation volume remaining at 35.6 gigawatt-hours due to the impact of its reliance on Tesla, causing its market share to shrink to 8.4%. Both Korean and Japanese companies failed to avoid difficulties.

This gap in the domestic and international battery industries stems from simultaneous overseas market offensives by leading and emerging Chinese companies. Industry leader CATL recorded an installation volume of 143.7 gigawatt-hours, a sharp 46.7% increase, strengthening its dominant position with a 33.7% market share. BYD also secured a 10.8% share with 45.9 gigawatt-hours, up 66.8%, driven by strong finished vehicle exports. In addition, emerging players such as EVE Energy, which recorded 9.5 gigawatt-hours, a surge of 214.6%, Gotion High-Tech at 17.6 gigawatt-hours, and SVOLT at 13.1 gigawatt-hours, posted triple-digit growth rates, threatening the position of K-batteries.

Industry experts pointed out that Chinese companies are solidifying their leadership in overseas markets based on price competitiveness and aggressive investment in European and North American hubs, heightening a sense of crisis in South Korea's battery industry. Voices are growing that it is urgent for Korean battery companies to formulate fundamental strategies to enhance competitiveness—securing next-generation battery technology, diversifying portfolios, and strengthening supply chain stability—in order to respond to the fierce offensive from Chinese-made batteries.

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*This content was translated by AI.View Original