According to the latest report from research firm SNEResearch, in the first quarter of 2020, LG chem ranked first in global EV battery usage with a market share of 27.1%.

    LG chem's market share more than doubled from the same period in 2019, surpassing panasonic's 25.7 percent, according to the report.Ningde took third place with a market share of 17.4 percent, down from 23.4 percent in the same period in 2019.In fourth place was samsung SDI, with a 6% market share.China vision energy co., LTD. 's AESC increased its market share (5.6%) to rank fifth.Byd ranked sixth with a 4.9 percent market share, down 10.2 percentage points from 15.1 percent in the same period in 2019.

    LG chem's global power battery installed capacity in the first quarter of 2020 was 5.5 GWh, compared with 2.5 GWh in the same period in 2019.SNE Research attributed LG chem's success to strong sales of the tesla Model 3, Renault's Zoe EV and the audi e-tron.

    According to global EV Sales data released by EV Sales, tesla Model 3 Sales in the first quarter of 2020 were 89,923 units, up 75% from the same period last year.It is estimated that the revenue of LG chem's battery business will exceed 90 billion yuan in 2020, a year-on-year growth of 79%.

"The Model 3"

    In addition, the combined market share of LG chem, samsung SDI and SK Innovation, South Korea's three major battery makers for electric vehicles, also jumped to 37.5% in the first quarter of 2020, up from 16.4% in the same period in 2019.But as covid-19 spreads, SNE Research notes, the three companies' main markets in the U.S. and Europe are under pressure, while China, where competitors such as ningde times are based, is starting to recover.In the future, these three manufacturers will face a severe test.