Korea-made batteries are leading the electric car lithium ion (Li-ion) battery market.
A new Leaderboard Report released on Dec. 7 by Navigant Research, a global research body that provides market research, ranked LG Chem and Samsung SDI as first and third, respectively, both leading players in the world’s Li-ion battery market.
Navigant Research says that LG Chem and Samsung SDI lead the Li-ion battery market, as the two Korean manufacturers were ranked first and third, respectively, in its recent survey.
The report looked at the strategies and the execution capability of Li-ion battery manufacturers from around the world on a total of 12 criteria. In terms of strategy, it looked at the companies’ vision, go-to market strategies, production strategies, partners, technology and geographic reach. In regard to execution capabilities, it analyzed sales, marketing, product quality & reliability, pricing, product portfolio and staying power.
The companies were rated on the 12 criteria and labeled as either followers, challengers, contenders or leaders, from bottom to top. The “leaders” required more than a total of 75 points on average. In the recent evaluation, LG Chem earned 93.6 points in total, with 94 points in strategy and 93.3 in execution, topping other performers. Samsung SDI had 87.5 points, with an 89.5 in strategy and 85.5 in execution, placing itself in third place.
President Park Geun-hye (second from right) inspects LG Chem electric car batteries during a visit to a Renault electric car exhibition in Paris on Nov. 4, 2013.
Navigant Research called LG Chem the best player, armed with “safety and cost-efficiency,” saying that, “LG Chem supplies General Motors, as a strategic partner for its Chevrolet Volt electric cars, with battery cells, inverters and driving motors. The manufacturer is now ready to branch out into not only the domestic market at home, but also into the U.S., China and European markets, supplying a variety of Li-ion batteries.”
In regard to Samsung SDI, the research firm called it one of the leading Li-ion battery makers. It said that the company currently supplies batteries for electric cars at Germany’s top automobile companies, including Porsche, BMW and Audi, and also offers technological support, ranging from battery cells to battery packs.
By Sohn JiAe
Korea.net Staff Writer
Photo: Cheong Wa Dae
jiae5853@korea.kr
