The European new energy car market goes against the trend and the power battery giant is fighting for the beach.

SMM9 March 30: August 3, South Korean market research agency SNE Research released the latest data show that affected by the epidemic, the total installed capacity of global vehicle power batteries fell 23% year on year to 42.6 GWh in the first half of this year. Among them, LG Chemical ranked first with 24.6 per cent market share, while Ningde Times ranked second and Panasonic third.

Among them, the growth in LG chemical installation is mainly due to the strong market performance of Tesla Model 3, Renault Zoe and Audi e-tron, all of which are being powered by LG Chemical. Previously, in the first quarter of this year, LG Chemical had a global market share of 27.1%, while Ningde Times accounted for 25.7%. LG Chemical has ranked first in the global market share.

The report also mentioned that China and the United States, as key markets, have been affected by the epidemic, resulting in a decline in demand for new energy vehicles. As for Europe, it is a different world. Although the overall car market in Europe has fallen sharply as a result of the blockade of the epidemic, sales of new energy vehicles have still set a new record. It is reported that according to data released by European countries, sales of new energy vehicles in eight major European countries, including Germany, France and Britain, exceeded 99500 in July, an increase of 214 percent over the same period last year. Among them, sales in Germany, France and the UK were 35900, 17000 and 15600 respectively, up 289 per cent, 298 per cent and 286 per cent over the same period last year.

In recent years, with the gradual increase of European policy on new energy vehicles, the gradually expanding market has gradually attracted the landing of major power battery giants. The installed capacity of LG chemical power battery exceeds that of Ningde era, which also has the contribution of the European market. For example, many European car companies, such as Renault, Audi and Jaguar, have adopted the power battery provided by LG Chemistry.

Recently, at the 2020 World New Energy vehicle Conference, Zeng Yuqun, chairman of Ningde Times, called on China's new energy vehicle industry to continue to invest less than Europe, "China's new energy vehicle market may fall behind from the first camp." He pointed out that it is an irrefutable fact that the sales of new energy vehicles in Europe have surpassed that of China this year, and he deeply regrets this. China invested about seven times as much in the new energy industry as Europe in 2018, compared with less than 30 per cent in 2019.

Europe is still pushing ahead with its targets for new energy vehicles, and last week, the European Union announced that it would further increase its target for reducing carbon dioxide emissions from cars over the next decade. Specifically, the EU intends to increase its greenhouse gas emissions reduction target by 2030 from 40 per cent to 55 per cent (that is, a 55 per cent reduction from 1990 levels), and intends to incorporate this target into the climate law. By then, electric cars will account for more than 60% of new car sales in Europe, up from 4% now, according to market analysts.