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Korean EV (electric vehicle) battery manufactures are gaining ground, and among them, SK Innovation has been making big moves by increasing its share in the global EV battery market. The industry predicts that in 2021 SK Innovation\u2019s share in this market will even increase faster.<\/span><\/p>\n <\/p>\n According to data released by market research firm SNE Research on January 20th<\/sup>, SK Innovation ranked 4th<\/sup> in global electric vehicle (EV, PHEV, HEV) battery usage ranking (excluding China) from January to November 2020 with 6.5 GWh, which equals to 9.9% share in the market. This means the company has made a whopping 239.7% increase from 1.9 GWh (4.2% share) of the same period in 2019. SK Innovation is narrowing the gap with Samsung SDI, which ranked 3rd<\/sup> with 6.7GWh in the same period. In particular, SK Innovation\u2019s battery usage of one month in November 2020 has surpassed Samsung SDI, taken the 3rd<\/sup> position in the ranking.<\/span><\/p>\n <\/p>\n It is known that SK Innovation is focusing on manufacturing mid-to-large-sized batteries for EVs to realize its unrivaled high-nickel battery technology. The company has delivered 70 million battery cells so far, and proved the safety of its products with zero case of fire incident.<\/span><\/p>\n <\/p>\n According to announcements by the Korean Ministry of Trade, Industry and Energy, this year\u2019s EV battery production will increase by 32% from last year. EV battery exports is also expected to reach 7 billion US, the highest record ever in Korea. As Europe, the U.S. and China keep promoting eco-friendly policies, the front industries such as EVs and ESS (energy storage system) expand and thus demand for rechargeable batteries will surge as well.<\/span><\/p>\n <\/p>\n In this regard, the Korean Ministry of Trade, Industry, and Energy predicted that \u201cThe competition in the EV battery manufacturing industry is heating up. Existing firms are expanding their business with more facility investment, and new companies also keep making their entrances in the market. However, for the time being, the market would still be dominated by top six companies, including Korean EV battery manufacturers.\u201d<\/span><\/p>\n <\/p>\n Meanwhile, Roh Woo-ho, an analyst at Meritz Securities, made a report in which examined the influence of oil refining and chemicals since Joe Biden\u2019s inauguration day on January 21st<\/sup>. Roh pointed out that SK Innovation can get benefit with its EV battery plants in Georgia. He added, \u201cMeritz Securities applies profit estimates based on SK Innovation’s growth in the U.S. business.” \u00a0“We need a business value premium related to SK Innovation’s establishment of EV battery production facilities in the U.S.”<\/span><\/p>\n <\/p>\n Researcher Lee Ji-yeon of Shinyoung Securities also selected SK Innovation as the top pick stock in the refining industry. In a report released on January 18th<\/sup>, Lee revealed, \u201cWe can expect more from SK Innovation\u2019s main business and pay attention to the growth potential of its EV battery business.\u201d<\/span><\/p>\n <\/p>\n Lee added, \u201cIn the first half of 2021, it will be possible to grant a valuation premium (business value of 13.5 trillion Korean won) with the lPO of SK IE Technology, a subsidiary of SK Innovation, and thus \u201cthe target IPO stick price can be raised to 330,000 Korean won.”<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Korean EV (electric vehicle) battery manufactures are gaining ground, and among them, SK Innovation has been making big moves by increasing its share in the global EV battery market. The industry predicts that in 2021 SK Innovation\u2019s share in this market will even increase faster. According to data released by market research firm … Read more<\/a><\/p>\n","protected":false},"author":564,"featured_media":3778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,347],"tags":[35,142,68,105,127,13,15,133],"class_list":["post-3772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insight","category-trend_report","tag-battery","tag-china","tag-electric-vehicle","tag-ess","tag-europe","tag-ev-battery","tag-sk-innovation","tag-us"],"acf":[],"_links":{"self":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/3772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/users\/564"}],"replies":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/comments?post=3772"}],"version-history":[{"count":4,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/3772\/revisions"}],"predecessor-version":[{"id":5454,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/3772\/revisions\/5454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media\/3778"}],"wp:attachment":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media?parent=3772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/categories?post=3772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/tags?post=3772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}