SK On Considering Developing Iron Phosphate Batteries
Tesla recently announced that its inexpensive models would come with iron phosphate batteries. This means the use of EV batteries manufactured by Chinese companies is likely to increase with time.
“Iron phosphate batteries are inexpensive and yet disadvantageous in terms of weight, energy density and driving range,” LG Energy Solution said after the announcement, adding, “We are working on better low-price batteries using no expensive materials such as cobalt.”
At present, iron phosphate batteries for use in electric vehicles are manufactured mainly by the Chinese companies including CATL and BYD. On the other hand, South Korean EV battery manufacturers are focusing on relatively more expensive nickel-cobalt-manganese batteries.
Samsung SDI said that it is not considering developing iron phosphate batteries but is working on cobalt-free batteries like LG Energy Solution. On the other hand, SK On mentioned early this month that it is considering developing iron phosphate batteries.