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EV Battery Market - Jan-Aug 2020
Roland Zenn analysis of the EV Battery Market.
China, Europe, Tesla and the pandemic define the xEV #battery market in 2020. LG, CATL and Panasonic are still the three amigos!
64.7 GWh of battery cells were deployed in sold HEVs, PHEVs and EVs between Jan.-Aug 2020, which corresponds to a market decline of -9% YoY.
The lower demand for #batteries was caused by low sales numbers of xEVs in H1 2020 in CN and the US as a consequence of the Covid-19 pandemic.
Chinese players with focus on the domestic market were hit hardest; apart from CALB all of them sold less batteries in a YoY comparison. However, EV sales are increasing quickly again in CN thanks to extended subsidies and other favorable policies. Therefore, CATL will likely reclaim 1st place from LG in 2020.
Despite the pandemic Europe has seen EV sales numbers up 90% YoY between1-8 2020 and has become the fastest growing EV market. The European market is relying a lot on local batteries from the LG Poland, SDI Hungary, SKI Hungary and AESC UK. Especially the Korean's benefitted and were able to increase sales numbers significantly in 2020.
LG, CATL and Panasonic are suppliers to #Tesla. Their sales numbers would be significantly lower without Tesla.
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