Korean battery manufacturers are making significant strides in the U.S. electric vehicle (EV) market, with 72% of recently subsidized EV models using batteries from South Korea. The U.S. government’s expansion of subsidized EV models from 10 to 43 has boosted the presence of Korean batteries in the American automotive industry.
LG Energy Solution leads the pack with 17 models, followed by Samsung SDI with 12 and SK on with 10, out of the 31 models using Korean batteries. Notably, all brands except Nissan have at least one model equipped with Korean batteries. Nissan’s Leaf S and Leaf SV Plus are the exceptions, using batteries from Chinese manufacturer Envision AESC.
The battery industry is optimistic about future prospects, with many new EV models set to be released in the second half of the year. Additionally, the decision to grant a two-year grace period for the use of Chinese graphite is expected to benefit Korean battery manufacturers.
LG Energy Solution is expected to supply batteries to General Motors’ new models, SK on to the upcoming Hyundai Ioniq 9, and Samsung SDI to major clients BMW and Volkswagen for their new models. This expansion and dominance of Korean batteries underscore their reliability and quality, cementing their position in the growing EV market.
