Connect with us

Hi, what are you looking for?

CleanTechnica

Batteries

New Report On EV Battery Market Details Potential Path For LG Chem EV Battery Growth

A new report from Lux Research makes the argument that LG Chem could supplant Panasonic as the leader of the growing electric vehicle (EV) battery market, and details the potential path to that happening.

That report — “Watch the Throne: How LG Chem and Others Can Take Panasonic’s EV Battery Crown by 2020” — notes that, while Panasonic is pretty clearly the current leader of the market (with a 39% market share), as the market continues to grow (becoming a $30 billion market by 2020) the dynamics could change swiftly.

image

Lux Research notes that, while Panasonic still has its partnership with Tesla Motors, LG Chem has recently made deals with many top manufacturers, such as Volkswagen, GM, Ford, and Daimler. If German manufacturers manage to see a surge in sales of their electric offerings, then all that would be necessary for LG Chem to take the top spot would be to win Nissan’s business, according to the report.

The most likely scenario, though, will see Panasonic retaining a 51% market share in 2020 — owing to growing sales with its partners. (We also just got news that Mercedes is partnering with Panasonic.)

Cosmin Laslau, Lux Research Senior Analyst and lead author, commented: “The battery world’s big three — Panasonic, LG Chem, and Samsung SDI — are engaged in an all-out war for market share in the emerging plug-in vehicle opportunity, yet their strategies differ wildly.”

Some key points:

  • The market is still nascent. Despite the successes of recent years, the market is still relatively undeveloped. This is set to change within the near future, though, as major automakers start releasing long-range offerings.
  • The future of the Renault-Nissan Alliance is hard to predict. While Renault-Nissan is expected to account for 9% of the market in 2020, the future of the joint venture with NEC is hard to predict. The potential is there for LG Chem to edge its way into Nissan’s circle.
  • Next-generation offerings remain game changers. Improvements in battery technologies may result in big changes to market shares. Solid-state batteries, in particular, are an area to watch.
 

Advertisement
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

Comments

You May Also Like

Cars

In some weird parallel universe, Tesla was kicked out of the S&P 500 Environmental, Social, and Governance (ESG) Index while oil companies were added...

Cars

Tesla is forming a new litigation department, CEO Elon Musk recently announced on Twitter. Tesla’s new litigation department will initiate and execute lawsuits, and...

Batteries

Some love the smaller cars. Yes, it’s true. Well, today you will find more to love with two new, oh-so-affordable cars in Japan. Even...

Cars

The electric vehicle market in the U.S. is still fairly new, and Tesla has largely dominated that market since its inception. However, competition in the EV...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.