{
  "id": 17762614,
  "title": "Chinese Battery Makers Capture 73% of Global EV Market as Korean Share Falls to 12.6%",
  "url": "https://urgent.news/2026/11/02/chinese-battery-makers-capture-73-of-global-ev-market-as-korean-share",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T07:34:51.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=280201"
  },
  "original_language": "en",
  "account": "As of September 2026, Chinese battery manufacturers have secured a dominant 73% share of the global electric vehicle battery market, while South Korean companies have slipped to a 12.6% share, a 47.4 percentage point gap. This widening divide comes as total battery usage in electric, plug-in hybrid, and hybrid electric vehicles worldwide rose 19.7% year-over-year to 994.5 GWh. Chinese firms, including CATL, commanded 389.2 GWh, a 25% year-on-year increase, while South Korea's LG Energy Solution, SK On, and Samsung SDI together used 81.9 GWh. The performance disparity was evident: CATL saw a 24.9% jump in battery usage, while BYD's usage grew 7.4% to 150.9 GWh. Korea's battery industry is pivoting towards energy storage systems and diversifying its customer base due to sluggish EV demand, particularly in North America where a 24.3% decline cut total usage in half.",
  "summary": "The global electric vehicle battery market continues to post double-digit growth, yet South Korean battery manufacturers are losing ground. With Chinese firms now commanding more than 70% of the global market, the combined share of South Korea’s battery makers has fallen to 12.6%, widening the gap b",
  "key_points": [
    "Chinese battery makers hold 73% of global EV market share",
    "South Korean companies reduced to 12.6% market share",
    "CATL usage increased 25% year-on-year to 389.2 GWh"
  ],
  "editors_take": "The widening gap between Chinese dominance and South Korean decline forces Korean manufacturers to pivot toward energy storage systems as North American electric vehicle demand falters.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}