Market share of South Korean batteries rose to 40% range again in North American electric vehicle market as preference on South Korean batteries is higher than Japanese batteries amongst global electric vehicle industries and as GM’s Bolt, which is equipped with batteries from LG Chemicals, took the first place in sales volume for the first time.
After The Electronic Times reanalyzed sales volumes of BEVs (Batter Electric Vehicle) and PHEVs (Plug-in Hybrid Electric Vehicle) in North American market that were totaled by Inside EVs, market shares of South Korean batteries and Japanese batteries were 42% (210,000kWh) and 58% (300,000kWh) respectively. Market share of South Korean batteries in July increased by 9% compared to last month and it also exceeded this year’s average market share (35%).
GM’s Bolt took the first place for the first time in sales volume in North America during month of July since it was released at the end of 2017 as GM sold 1,917 Bolts during month of July. Second, Third, Fourth, and Fifth places were Tesla’s ‘Model X (1,650)’, Toyota’s ‘Prius Prime (1,645)’, GM’s ‘Volt (1,518)’, and Tesla’s ‘Model S (1,425)’ respectively. Besides Bolt and Volt, every other electric vehicles that were placed on top sixth places are equipped with Japanese batteries. On the other hand, 22 electric vehicles out of 36 electric vehicles that are currently released in the U.S. are equipped with South Korean batteries.
Sales volumes of South Korean electric vehicles were very low. Hyundai Motor Company only sold 200 ‘IONIQ Electric’, which is its only BEV model, within 5 months after releasing it in May. Sales volumes of Hyundai Motor Company’s PHEV models including Kia Motors’ ‘Soul EV’ were also low.
Forecast of electric vehicle markets in the future is not too optimistic for South Korean industries. Market share of Japanese batteries is likely to continue to increase as Toyota, which stayed at the bottom of the ranking, rose to the third place based on accumulated sales volume by releasing new PHEV model called ‘Prius Prime’ and as Tesla and Honda released Tesla’s first economic electric vehicle called ‘Model 3’ and Honda’s first electric vehicle called ‘Clarity’ this month in the U.S.
“While preference for South Korean batteries is evenly high throughout American and European automotive industries, Japanese batteries are mainly supplied to Japanese cars excluding Tesla.” said a representative for an industry. “While it seems that South Korean batteries are somewhat behind of Japanese batteries, competitions between South Korean batteries and Japanese batteries will continue within electric vehicle markets.”
Staff Reporter Park, Taejoon | gaius@etnews.com
