In addition to China’s impressive performance in the battery industry, it is well known that South Korea is also competing for the leadership position in the battery market. Recently, it has been reported that South Korea has maintained a steady rise in the current status of batteries, has been insisting on the development of battery technology on the basis of the original, but it has largely ignored the research on iron-based batteries.
Although lithium iron phosphate (LFP) batteries are cheaper and safer than nickel batteries because they do not contain expensive materials such as nickel, cobalt and manganese, which reduces manufacturing costs, South Korean companies have shunted the technology because of lower energy density in cold climates, which has hindered the range of electric vehicles in winter.
But now, as Chinese battery makers make various efforts to overcome these inherent weaknesses of iron-based batteries, South Korea is changing its traditional view.
Byoungwoo Kang, a professor at Pohang University of Science and Technology who works with Korea Battery, said South Korea’s top three battery makers – LG New Energy, Samsung SDI and SK On – are moving as fast as they can to LFP battery technology. Mr Kang said the most “enthusiastic” player appeared to be SK On as it sought to increase its market share.
In March, SK On demonstrated a pilot product of its LFP battery at the InterBattery conference in Seoul. As the first company to take action, SK On said the product can improve energy density at low temperatures.
The change in attitude of the Korean battery giant is an important blow to the global battery market.
For years, China’s battery giants have dominated the battery market, taking the limelight as high-profile leaders and increasing China’s voice and influence in the world. Compared with South Korea’s battery giants are also secretly competing, it is bound to pave the way for their own grand construction.
As the Chinese battery giants gradually achieved results in the research and development of new materials, the Korean battery giants finally could not help but move in the direction of new materials, and it is understood that the original materials alone may be pulled apart.
With the Korean battery giant’s new field of entry, in the future battery market, equivalent to more opportunities and challenges, who is laughing and who is crying, will become unpredictable unknowable.