According to South Korea's Asia Daily reported on February 3, LG energy solutions have been successfully listed, marking the start of the battle between South Korea and China for supremacy on the electric vehicle battery track.
According to the battery industry, how LG energy challenges China's "first brother" position in the global power battery market has become the focus of market attention. LG energy raised 10.2 trillion won (about 57 billion yuan) through this listing, becoming the largest IPO in the history of South Korea's capital market. On the first day of listing, it reported a market value of 118 trillion won, making it the second largest enterprise in South Korea.
According to the data provided by SNE research, the market share of Contemporary Amperex Technology Co.Limited(300750) in the global electric vehicle battery market is 32%, LG energy is 21%, Panasonic and Byd Company Limited(002594) are 12% and 9% respectively. However, if the Chinese market is excluded, LG energy is significantly ahead of Contemporary Amperex Technology Co.Limited(300750) with a 36% market share.
It is reported that LG energy has built production lines in North America, Europe, China and other places, with an annual production capacity of 155gwh and is expected to increase to 400gwh by 2025. At present, the capacity of Contemporary Amperex Technology Co.Limited(300750) is 240gwh, and the company has set a strategic goal to increase to 600gwh by 2025. With the development of new energy vehicle market in Europe and America, Contemporary Amperex Technology Co.Limited(300750) and LG will compete overseas.
