South Korea’s three major electric vehicle battery manufacturers are losing to Chinese rivals such as BYD and CATL.

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Their total share of the global EV battery market fell by about 9 percentage points year-on-year from January to May.

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According to SNEResearch on Sunday, LG Energy Solution, Samsung SDI, and SK On accounted for a total of 25.6% share of the global market 

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in the first five months of the year, down 9.1 percentage points from last year.

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The largest LG Energy Solution remained in second place with a 14.4% share. 

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SK On was 5th and Samsung SDI was 6th. However, CATL and BYD were ranked 1st and 3rd.

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Global sales of Korean battery manufacturers have increased since last year, 

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with LG Energy Solution selling 22.6GWh batteries in the first five months, 

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up 7.9% year-on-year. SK On has more than doubled its 10.8GWh battery from 4.7GWh, and Samsung SDI 6.9GWh has increased from 5.2GWh.

However, due to the rapid growth of Chinese companies, market share has declined. 

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CATL’s EV battery sales doubled from 25.1GWh a year ago to 53.5GWh, and BYD’s sales increased from 6.1GWh to 19GWh.

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