Samsung SDI booth at Interbattery 2023 [Photo by Yonhap]
South Korea’s three major battery makers - LG Energy Solution Ltd., SK on Co. and Samsung SDI Co. - unveiled new products, including lithium iron phosphate (LFP) batteries, in their efforts to expand their markets to better compete against their rivals in China.
The companies unveiled in Seoul their new products at Interbattery 2023, the largest battery exhibition in Korea. A total of 477 companies, including battery and material companies, set up booths at this year’s event, attracting 40,000 visitors on the first day Wednesday.
LG Energy Solution showcased LFP battery cells and packs for the first time at the event on Wednesday. This product is used in energy storage systems for power grids and houses. The company’s in-house independent company KooRoo demonstrated a battery swapping station service that allows two-wheeled electric vehicle drivers to simply exchange batteries, instead of charging them.
SK on, which had been producing only pouch-type batteries, displayed a mock-up of its newly developed prismatic battery and unveiled the prototypes of cobalt-free batteries and LFP batteries.
Samsung SDI displayed its key battery lineup including prismatic, cylindrical, pouch-type batteries, and button batteries. It also showcased all-solid-state batteries, innovative structural design, high-efficiency fast charging and safety technologies. Furthermore, the company presented new E5S modules and racks for energy storage system, which are equipped with direct injection system and water-cooling system for the ultimate safety.
Samsung SDI also unveiled its plan to produce LFP batteries for the first time. Samsung SDI Chief Executive Officer Choi Yoon-ho told reporters, “We are working hard to produce LFP batteries because the diversity in business and customers is important.”
[Photo provided by POSCO Chemical]
Meanwhile, POSCO Chemical Co., a leading South Korean manufacturer of battery materials, introduced its current state of building a product portfolio that includes a full lineup of its cathode and anode products, including high-nickel cathodes for LFP and cobalt-free batteries.
“We will sign a contract to supply cathode materials to LG Energy Solution within the year,” POSCO Chemical President Kim Joon-hyung told reporters. “We are also exploring various ways for business cooperation with SK on.”
In January this year, POSCO Chemical signed a contract to supply high-nickel cathode materials worth 40 trillion won to Samsung SDI for 10 years. “Demand for LFP batteries is increasing in the market,” Kim said. “We are considering entering the cathode material business for LFP batteries.”
By Song Min-geun, Jung You-jung, and Yoon Yeon-hae
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]