To Diversify Product Portfolio
SK Innovation is gearing up to develop prismatic batteries. The company has recently put up a job advertisement to hire experienced workers for the development and design of prismatic battery components. It is also hiring people with experiences in prismatic battery assembly and welding technologies. The company is looking for those who have more than three years of experience or doctoral degrees in the related fields.
Secondary batteries for electric vehicles are divided into prismatic, cylindrical, and pouch types. The company has been focusing on pouch batteries. On the other hand, LG Energy Solution is focusing on cylindrical and pouch types, while Samsung SDI produces prismatic and cylindrical types. Pouches can be molded and applied to a variety of products, but their production cost is high. On the other hand, prismatic batteries are resistant to shocks and have excellent durability. Their production unit price is also lower than that of pouch batteries. However, poor heat dissipation is considered a weakness of prismatic batteries. China's CATL manufactures prismatic batteries.
Cylinder-shaped batteries are mainly used for Tesla electric vehicles. They can be produced at a low cost, but have poor space utilization. Since each battery type has both positive and negative sides, global battery manufacturers produce two or three types of batteries together.
SK Innovation is developing prismatic batteries to diversify its product portfolio. Volkswagen, the world's largest carmaker, announced in a Power Day event in March that it will apply prismatic batteries to its future electric vehicles. Volkswagen's announcement pulled down the stock prices of LG Chem and SK Innovation, which supply pouch batteries.
Competition is expected to heat up between carmakers and battery companies for future EV battery standards. Volkswagen and other German automakers, including Benz and Audi, are mainly using prismatic batteries. Hyundai Motor, General Motors and Ford are loading electric vehicles with pouch batteries. Tesla, on the other hand, uses cylindrical batteries.