Chinese price-competitive sodium-ion batteries pose threat to Samsung, LG - The Korea Times

Sodium-ion batteries offer several major advantages over nickel cobalt manganese (NCM) and lithium iron phosphate (LFP) batteries, particularly in terms of cost and proven safety against fire risks. They also maintain strong energy density even in extremely low temperatures.

Additional data from the market tracker showed that the combined global market share of the three Korean battery firms mentioned is in sharp decline. Their combined share in the first half of this year fell to 16.4 percent, down 5.4 percentage points from a year earlier. In 2021, they accounted for more than 30 percent of the global EV battery market.

In contrast, Chinese battery firms held a commanding 77.8 percent share of the market during the same period

more carmakers, including Hyundai Motor, are moving to adopt Chinese NCM batteries