EV Battery Market Expanded In August 2020 To 10.8 GWh
CATL, LG Chem and Panasonic were the top suppliers in August, but LG Chem stays on top year-to-date.
The EV battery market is finally showing significant growth. According to SNE Research, the global EV battery shipment in August amounted to 10.8 GWh, which is 41.3% more than a year ago.
The biggest suppliers by volume for the month were CATL, LG Chem and Panasonic and basically, most of them increased its results.
Global EV Battery Shipment August 2020:
After the first eight quite challenging months of 2020, the EV battery market is estimated at 64.7 GWh (down 9.9% from 71.8 GWh).
The top EV battery maker seems to still be LG Chem, which doubled its volume to 15.9 GWh. It’s interesting that a year ago, LG Chem was just 4th.
The second-best CATL (15.5 GWh YTD) is improving its results, which means that the first position is still in range, but overall the results are noticeably below 2019.
Panasonic is third (12.4 GWh), also below 2019’s level, and probably without as many new projects in the pipeline as LG Chem and CATL.
Global EV Battery Shipment YTD 2020:
Total: 64.7 GWh (down 9.9% from 71.8 GWh)
The top six manufacturers control 84.1% of the market (up from 80.0% a year ago). The South Korean companies (LG Chem, Samsung SDI and SK Innovation) holds 35.1% (compared to 16.2% a year ago).
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