On January 10, South Korean battery manufacturer LG New Energy said it expected its global market share to surpass CATL (300,750), considering LG's backlog of battery orders. LG New Energy also said it plans to use lithium iron phosphate batteries in electric vehicles. According to SNE Research, a South Korean market research institution, LG's new energy market share will be 20.5% in 2021, second only to CATL (31.8%).
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