Giants produce lithium iron phosphate batteries -Lithium - Ion Battery Equipment

Giants produce lithium iron phosphate batteries -Lithium - Ion Battery Equipment

News on September 2nd, according to foreign media reports, LG Energy Solutions, which was spun off from LG Chem’s battery business and officially established on December 1st last year, is a manufacturer of LG Chem’s battery business focusing on electric vehicle batteries. Thanks to LG Chem's years of hard work in the battery field, LG Energy Solutions has been a large-scale company since its establishment. It is currently the world's second largest battery giant and an important global battery supplier.(Lithium - Ion Battery Equipment)

But surprisingly, the large-scale LG Energy Solutions Company, which supplies batteries to many manufacturers, has not been involved in the development of lithium iron phosphate batteries with better stability. It only started research and development last year.

LG Energy Solutions only started developing lithium iron phosphate batteries last year, which was first reported by the Korean media.

South Korean media said in the report that according to what they learned, LG Energy Solutions started to develop lithium iron phosphate battery technology at their laboratory in Daejeon, South Korea at the end of last year.

In the report, the Korean media also mentioned that LG Energy Solutions is expected to build a test production line for lithium iron phosphate batteries as soon as next year. It is reported that LG New Energy's lithium iron phosphate battery is packaged in a soft pack.

As a new company spun off from LG Chem, LG Chem will also participate in the development of lithium iron phosphate battery business with LG Energy Solutions. South Korean media mentioned in the report that LG Chem may establish a joint venture with other manufacturers to supply raw materials for the production of lithium iron phosphate batteries for LG Energy Solutions.

At present, LG New Energy is the second largest power lithium battery giant in the world, second only to CATL.

LG New Energy's parent company is LG Chem. According to public information, LG Chem was established in 1947. Since 1995, LG Chem has started research on lithium-ion batteries. In 1999, LG Chem became the first company in Korea to mass-produce small lithium-ion batteries.

In 2000, LG Chem began to develop power lithium-ion batteries at its Michigan R&D base. In 2009, LG Chem first applied its self-developed lithium-ion batteries to commercial electric vehicles.

In December 2020, LG Chem split the battery business as a new company (now LG New Energy), and LG New Energy is currently applying for IpO.

In the field of power lithium batteries, LG New Energy once surpassed CATL to rank first in the world in 2020. It was not until September 2020 that CATL "snatched" back the world's No. 1 throne and continued until the end of the year.

From the perspective of the whole year of 2020, the market share of CATL power lithium-ion battery shipments is only 1% higher than that of LG New Energy, and the market share of power lithium-ion battery installed capacity is 2.2% higher than that of LG New Energy.

In July 2021, the global power lithium battery installed capacity in May 2021 announced by the South Korean market research agency SNE showed that LG New Energy surpassed CATL, ranking first in the global power lithium battery installed capacity with a year-on-year increase of 3.7 times to 5.7GWh .

However, from January to May, CATL still ranked first with 22.1GWh of installed capacity, with a market share of 27.1%; LG New Energy ranked second with a difference of 0.4GWh, with a market share of 26.6%.

It is worth noting that due to battery problems, LG New Energy has "backed the pot" and is expected to lose more than 5.6 billion yuan among the electric vehicles recalled by Hyundai Motor; among the electric vehicles recalled by GM twice, it is also the same as LG New Energy's electric vehicles. related to battery defects.

It is understood that GM's recall is expected to cost 1 billion US dollars (about 6.5 billion yuan), and GM said it is considering giving battery supplier LG New Energy.

LG New Energy urgently needs to improve the safety of power lithium batteries. It just so happens that lithium iron phosphate batteries are an option, and LG New Energy's entry into the field of lithium iron phosphate batteries is a matter of course.

This is the transformation of LG New Energy.

Lithium iron phosphate batteries are being applied on a larger scale due to their advantages of being safer, lower cost and longer life.

LG New Energy has already deployed lithium iron phosphate batteries. In the future, it is not ruled out that overseas battery giants such as Panasonic, Samsung SDI, and SKI will also deploy lithium iron phosphate batteries!



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