South Korea's power battery market share dropped to 23.5%

According to data from SNE Research, a South Korean market research organization, the total global battery installed capacity reached 158.8 GWh in the first quarter of this year, a year-on-year increase of 22%. However, the market share of South Korea's three major power battery manufacturers has dropped to 23.5%. Among them, LG New Energy's installed capacity was 21.7 GWh, with a market share of 13.6%, ranking third in the world; Samsung SDI's installed capacity was 8.4 GWh, with a market share of 5.3%, ranking fifth; SK on's installed capacity was 7.3 GWh, with a market share of 4.6%, ranking sixth. This change is mainly due to lower-than-expected car sales in Europe and the United States.