The latest report from Lux Research Institute shows that the three major companies that supply lithium batteries and participate in competition occupy the majority of the market share in today's electric vehicle battery market.
Panasonic supplies batteries to TSLA cars, while AESC is a joint venture of Nissan, while LG Chen supplies batteries to a large number of electric vehicle manufacturers. The report states that this will ultimately enable LG Chen to surpass other competitors in the electric vehicle battery market.
The report states that LG Chen, also known as the largest supplier in the electric vehicle battery market
The research institution believes that Panasonic is currently the leader in the electric vehicle battery market, with a 39% market share. The report states that from the current maximum to 2020, the company's market share will reach 51%.
However, Panasonic's reliance on TSLA to gain market share is considered a disadvantage for its company. LG Chen's batteries are used in cars produced by companies such as Audi, Chevrolet, Ford, Hyundai, Renault, Smart, Volkswagen, and Volvo.
LG Chen also hopes to supply batteries for the 2017 Chevrolet Bolt EV electric vehicle.
In addition to these three companies, Samsung SDI is also rumored to be working hard to enter the electric vehicle market. So the three companies mentioned above will engage in more intense competition.