Schedule a Call Back
South Korean battery giants face Chinese competition, eye innovation to stay ahead
Industry News- Sep 15,23
South Korean battery manufacturers are now entering the LFP battery market, which has been dominated by Chinese companies.
Leading battery and materials manufacturers in South Korea voiced their concerns about the rising competition from Chinese rivals in the battery market. However, they also expressed confidence in maintaining their leadership positions in both high-nickel and lithium iron phosphate (LFP) battery markets.
China's influence in the rechargeable battery market is growing, particularly in the LFP battery segment, as electric vehicle manufacturers increasingly adopt these cost-effective batteries to produce more affordable vehicles.
LG Energy Solution Co.'s Chief Technology Officer, Shin Youngjoon, noted during a panel discussion at The Korea Investment Week hosted by The Korea Economic Daily that, "Excluding the Chinese market, LG Energy Solution ranks first in the global electric vehicle battery market, but the gap is narrowing very quickly." However, he added, "Nevertheless, there are enough cards to maintain our lead."
South Korean battery manufacturers are now entering the LFP battery market, which has been dominated by Chinese companies. This move is in response to growing demand. Shin explained, "If we decide to do it, there is absolutely no reason for Korea to fall behind." LG-made LFP batteries are currently under verification by an EV company for potential use in vehicles to be released in 2026.
POSCO Future M Co and EcoPro Co have plans to begin producing LFP cathodes as early as 2025. POSCO Future M CEO Kim Jun-hyung pointed out that Korean companies supplying LFP cathode materials to the US could benefit from a 27% tariff exemption under the Korea-US Free Trade Agreement, maintaining price competitiveness over Chinese products.
In the high-performance ternary battery segment, Korea continues to lead in both technology and price competitiveness. As Chinese battery companies seek to enter the European market, their demand for high nickel is increasing.
Regarding solid-state batteries, the companies did not provide specific details about their development plans but acknowledged the challenges of achieving mass production and marketability. LG aims to mass-produce semi-solid batteries from 2026 and solid-state batteries from 2030.
To improve production yields, reduce costs, and maintain product quality globally, the three companies are enhancing the role of domestic factories as "mother factories." LG Energy Solution is also considering adopting a dry process for battery production, which can reduce manufacturing costs and increase energy density compared to the wet process.
Kang Kisuk, a professor at Seoul National University, highlighted China's dominance in terms of valid patents for "next-generation lithium-ion batteries." He emphasised the importance of developing new high-nickel cathode materials, transitioning from graphite to silicon as an anode material, and eventually exploring lithium metal as an anode material, as graphite is currently dominated by the Chinese supply chain.
Source: kedglobal.com
South Korean
Battery Giants
Chinese Competition
Innovation
Electric Vehicle Market
LFP Batteries
High-Nickel Batteries
Solid-State Batteries
Manufacturing
Lithium-ion Batteries
Technology Leadership
Battery Materials
Related Stories
Policy Regulation
Indian manufacturing sector has a very promising outlook: Amitabh Kant
In this interview with Rakesh Rao, Amitabh Kant, India's G20 Sherpa and former CEO of NITI Aayog, explores the country’s transformative journey in the last few years and potential of the Indian ma..
Read moreOther Industrial Products
Knowell can support India’s next wave of industrial growth: Jatin Shah
In this interview, Jatin Shah, MD and CEO, Knowell International Pvt Ltd, highlights the importance of bearings in propelling the growth of the Indian manufacturing sector.
Read moreSmart Manufacturing
India’s engineering sector has grown into a dynamic ecosystem: Amit Sharma
In this exclusive interview with Rakesh Rao, Amit Sharma, MD & CEO, Tata Consulting Engineers Ltd, highlights the transformation taking place in India’s engineering sector and the company's future..
Read moreRelated Products
Forklift Battery
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
Aatous International is a manufacturer and solution provider of a wide range of forklift battery.
Kusam Meco -Wrist Type High Voltage Alarm
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
‘KUSAM-MECO’ has introduced a new wrist Type High Voltage Alarm Detector - Model KM-HVW-289 having a wide sensing range from 1kV-220 kV AC.
Servotech Power Systems files 2 patents for energy management technologies
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
Servotech Power Systems, a leading manufacturer of EV chargers and solar solutions, has announced that it has filed two patents for innovative energy management technologies in order to facilitate gri Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
