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Electric-Car Batteries From Korea Win Users Even as Market Wanes
- LG Chem, Samsung SDI, SK Innovation boosting battery sales
- China’s CATL, Japan’s Panasonic saw declines: SNE Research
Photographer: Krisztian Bocsi/Bloomberg
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Rising electric-car sales in Europe helped South Korean battery makers sell more in the first six months of the year, bucking a downward trend in global sales for the industry.
LG Chem Ltd., Samsung SDI Co. and SK Innovation Co. boosted sales in the first half, helped by European demand, SNE Research said Monday. Worldwide sales of electric-vehicle batteries fell 23% as the coronavirus outbreak undermined demand for new cars in the U.S. and China, the research firm said.