South Korean battery giants LG Energy Solution and EcoPro BM are gearing up for a major offensive in the second half of the year, with a clear goal: reclaim market share lost to Chinese competitors. The companies have unveiled aggressive strategies to counter China's dominance in the global battery sector, particularly in the electric vehicle (EV) and energy storage system (ESS) markets.
According to industry sources, LG Energy Solution plans to ramp up production of high-nickel NCMA (nickel, cobalt, manganese, aluminum) batteries, which offer superior energy density and cost efficiency. The company is also targeting the fast-growing ESS market, where demand is surging due to the expansion of AI data centers. "We are taking back the market China stole from us," a senior LG Energy Solution executive stated.
EcoPro BM, a leading cathode material producer, is similarly focused on innovation. The company is developing next-generation materials, including high-voltage, high-capacity cathode active materials, to strengthen its competitive edge. EcoPro BM has also secured long-term supply contracts with major global automakers, ensuring stable demand.
Analysts note that the second-half push comes at a critical time. Chinese battery makers, backed by government subsidies and scale, have captured over 60% of the global market. However, South Korean firms are leveraging their technological superiority and diversified customer base to fight back.
The strategy appears to be yielding early results. LG Energy Solution recently announced a major supply deal with a leading US automaker, while EcoPro BM has seen increased orders from European EV manufacturers. The companies are also investing heavily in research and development to stay ahead in the race for next-generation solid-state batteries.
With global demand for EVs and ESS continuing to rise, the battle for battery market supremacy is expected to intensify. LG Energy Solution and EcoPro BM's second-half strategy could be a turning point in their fight to regain lost ground.