In the field of electric vehicle batteries, Chinese manufacturers and South Korean manufacturers have obvious advantages, and their market share is higher. China manufacturers are mainly CATL, BYD, China Innovation Aviation, EVE Lithium Energy, etc., while South Korea is LG New Energy, Samsung SDI, and SK On are the three major manufacturers.
Judging from the data released by relevant agencies, in terms of the installed capacity of electric vehicle batteries, the share of China manufacturers is much higher than that of the three major manufacturers in South Korea.
The latest reports from foreign media show that Chinese electric vehicle battery manufacturers, which have an advantage in market share, are also expanding the Korean market. Many manufacturers in South Korea will use batteries from Chinese manufacturers. Y is also expected to enter the Korean market within this year.
According to foreign media reports, the Korean automakers that will use batteries from Chinese manufacturers are Hyundai Motor and KG Mobility. It is reported that the Ray electric car launched by Hyundai Motor in the second half of the year will use lithium iron phosphate batteries from Chinese manufacturers. The new Kona electric car they launched last month will use lithium iron phosphate batteries from the CATL. KG Mobility will use BYD’s lithium iron phosphate batteries for their electric vehicles.
Tesla, which already sells electric vehicles in the Korean market, is also preparing to export the domestically produced Model Y produced by the Shanghai Gigafactory to the Korean market. It is equipped with CATL lithium iron phosphate batteries. Will enter the Korean market.