SK Innovation’s battery unit, SK On, is now lastly contemplating growing LFP (LiFePO4) batteries for electrical automobiles. This choice comes shortly after its home competitor, LG Vitality Resolution introduced that’s already growing EV batteries with this cobalt-free chemistry – that ought to grow to be accessible subsequent 12 months.
Based on SK On high officers, the largest benefits of the LFP battery chemistry are value and security.
Jee Dong-seob, CEO of SK On, admitted to Reuters that “there may be an curiosity in LFP know-how from automakers”.
For a very long time Korean battery cell makers have ignored and demised LFP as a low high quality Chinese language battery chemistry in comparison with “a lot superior” NCM batteries made by home firms. Solely very lately Korean battery cell makers began to acknowledge that the LFP chemistry has very interesting traits to automakers, resembling low value and excessive security, that are important to mass produce electrical vehicles and make them mainstream.
Anyway, it’s at all times nice to see one other battery cell maker leaping on the LFP bandwagon. By subsequent 12 months this cobalt-free battery chemistry will expertise appreciable enhancements within the power and energy density areas.