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Global power battery giants plummeted over 80 % of LG new energy difficulties, difficult to break the situation

via:凤凰网     time:2022/7/27 23:02:06     readed:186


Picture source: Visual China

Korean battery manufacturer LG New Energy (LG Energy Solution, stock code KOSPI: 373220) released the second quarter financial report on July 27th, with a net profit of 89.9 billion won in the second quarter, a decrease of 85.7%from 63.03 billion won in the same period last year; second The quarterly operating profit was 195.6 billion won, a 73%decreased from 724.3 billion won in the same period last year. Sales were 5.07 trillion won, a year -on -year decrease of 1.2%.

Since the launch of LG new energy, it has been less than the same period last year for two consecutive quarters. In April of this year, the first quarter financial report released by LG's new energy showed that the company's sales reached 4.34 trillion won, an increase of 2.1%year -on -year, and operating profit was 258.9 billion won, a year -on -year decrease of 24.1%.

In this regard, LG new energy said this is related to the continuous interruption of the global supply chain. In addition, the fierce offensive of competitors has further occupied market share.

The upstream cost increases, and the industry giant pinching

Since 2022, the surge in demand for electric vehicles has caused tremendous pressure on the supply chain, and has also caused the sales and profits of LG new energy to show two faces.

Market research company Snee Research data shows that in the first half of 2022, a total of 4.285 million electric vehicles (including pure trams and plug -in hybrid vehicles) were sold in the first half of 2022, an increase of 63%year -on -year.

The surge in demand has also brought the shortage and price of upstream raw materials. According to data from the global battery supply chain Benchmark Mineral Intelligence, from the beginning of January 2020 to mid -January 2022, the prices of battery cobalt, nickel sulfate, and lithium carbonate rose 119%, 55%, and 569%.

In addition, the two major opponents in the industry, Ningde Times (300750.SZ) and BYD (002594.SZ), also put tremendous pressure on LG's new energy sources. According to the latest statistics from the global power battery released by the Korean market research institution Snee Research, from January to May this year, the LG market share was 14.4%, ranking second; the first place was the Ningde era, and the market share reached 33.9%. BYD ranks third in the list with a market share of over 12%.

Can new products from developing new products and expand production lines can break the situation?

Faced with the front and back pinch of the two major battery giants, LG new energy is also seeking breakout.

Recently, many car companies and battery manufacturers are developing new power battery technology. For example, the Kirin battery and BYD's blade batteries in the Ningde era are square batteries, which have high energy density, which is conducive to improving the vehicle's battery life capacity Essence Although the circular batteries commonly used in LG new energy are high, the space utilization rate is low, and it is not easy to improve the battery life.

Earlier this year, LG New Energy also started to develop new products, announcing planning to develop bonded batteries, and formed a prism -based development team. However, on June 29, LG's new energy announced that due to the surge in investment costs, the company decided to re -consider the construction of a cylindrical battery factory in Arizona, which means that LG should put more energy on cylindrical batteries. Businesskorea reported that reports said , LG New Energy may suspend the research and development of prism batteries and continue to study existing cylindrical batteries and bags. The road of new product research and development is rushed.

In addition, LG new energy is constantly expanding the production line worldwide. Recently, the U.S. Department of Energy announced that the joint venture of LG New Energy and General Motors loans of US $ 2.5 billion to help the construction of lithium battery production lines in the factory. On July 26, LG New Energy announced that it would jointly establish a battery recycling plant with China Huayou Cobalt, and extract the raw materials required for battery manufacturing from waste batteries.

According to SNE Research forecast, by 2023, the global electric vehicle demand for power batteries will reach 406GWh, while power battery capacity is expected to be 335GWh, which still has huge development space.

Earlier this year, the LG New Energy CEO and Vice President Kwonyoung-Soo said at the IPO media exchange conference that considering that there are a lot of battery orders on hand at hand, they are confident that they have surpassed Ningde Times in terms of market share and become the world's number one in the world. Essence But now it seems that the Ningde era has continued to open the gap with LG's new energy, and BYD is also closely chasing. Keeping the current market share is also a great challenge for LG's new energy.

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