LG Chemical becomes the world’s largest lithium battery company Ningde era retreats to third place

In the first quarter of this year, lithium-ion battery giant LG Chemical surpassed Japan’s Panasonic and China’s Ningde era to become the world’s largest battery maker, according to a Report released on May 7by by SNE Research. SNE Research is a new energy equipment research and information agency in Korea, focusing on lithium batteries, electric vehicles, photovoltaic new energy, LCD/LED/OLED new lighting equipment and other fields. LG’s chemical installed capacity was 5.5 GWh in the first quarter, up 120 per cent from 2.5 GWh a year earlier, according to SNE Research.

LG Chemical becomes the world's largest lithium battery company Ningde era retreats to third place

Photo: LG Chemical

LG Chemical’s global market share rose from 10.7 per cent in the first quarter to 27.1 per cent in the first quarter of this year, as installed capacity soared.

Sales of Tesla Model 3, Renault Zoe and Volkswagen electric vehicles have led to a strong increase in installed capacity for LG’s chemical batteries, according to SNE Research.

In the first quarter of this year, Panasonic’s market share was second with 25.7 per cent, while the Ningde era came in third with 17.4 per cent, down 6 percentage points from 23.4 per cent a year earlier.

In the first quarter of last year, Ningde was the world’s number one with 23.4 percent of the market, Panasonic was second in the world with 22.9 percent, BYD was third with 15.1 percent, and LG Chemical was fourth with 10.7 percent.

In China, Japan and South Korea battery river, South Korean battery manufacturers momentum.

In the first quarter of this year, Samsung SDI ranked fourth in the world with a 6% market share, and SKI was the seventh largest in the world with 4.5%, according to SNE Research.

LG Chem, Samsung SDI and SKI combined for 37.5 percent, up 21.1 percent from 16.4 percent a year earlier.

AESC, a subsidiary of China Vision Energy Ltd., rose from 4.4 per cent a year earlier to 5.6 per cent in the first quarter of this year, ranking fifth in the world.

BYD (002594. SZ) ranks sixth in the world after AESC with 4.9 per cent of the market share, down 10.2 percentage points from 15.1 per cent a year earlier.

LG Chemical becomes the world's largest lithium battery company Ningde era retreats to third place

LG Chemical’s shares fell after the opening bell on May 8, falling 0.42 percent as of press release.

This is related to a chemical gas leak at a plant in the southeastern Indian state of Andhra Pradesh, Reuters reported.

The plant began leaking chemical gas in the early hours of the 7th, which has so far killed at least 11 people and sicked hundreds.

Source: Interface News

Journalists . . . Zhou Xiaoxua