LG Energy Solution enters the market for electric two-wheelers battery and chargers.It provides a total solution that includes battery cells/packs and battery charging/exchanging systems. Contrary to the previous business model that only supported in supplying battery cells, the LG Energy Solution plans to commercialize battery packs and charging/exchange systems for electric two-wheelers with its own technology. The company's strategy is to quickly preoccupy the market while there is no standards for battery pack/exchange system for electric two-wheelers in Korea,
According to the industry source on the 20th, LG Energy Solution will supply its battery packs and charging/exchange systems to domestic electric two-wheelers manufacturers such as KR Motors and Wako.
Domestic demand for electric two-wheelers has surged recently in the delivery market, but there is no standard specification for battery packs for two-wheelers.LG Energy Solutionplans to dominate the market through product standardization, because in doing so, the more favorable the adoption of national standards in the future when more products of LG Energy Solution are sold.
LG Energy Solution has already secured an outsourcing company and a factory dedicated to mass-produce battery packs which is an opposite strategy to Samsung SDI that supplies only battery cells to DNA Motors (former Daelim Motorcycle).The LG Energy Solution’s battery swap system for electric two-wheelers is able to exchange multiple 1.5kW-class battery packs at once.
It is designed to charge and quickly replace batteries, and the battery cell used is a small cylindrical cell (standard 21700).
The battery exchange system is structured in a way that electric two-wheelers users can replace the batteries by himself. They can find an exchange system, removes two battery packs, and then installs the fully charged battery pack. It has recently attracted attention in the commercial electric two-wheelers market since it significantly saves time from charging.
An official from LG Energy Solution said, “Unlike competitors’ strategies, which allows only supply battery cells, we have developed our own battery pack and battery charging/exchange system and secured intellectual property rights.The specific business model has not been confirmed, but we are focusing on overseas cases and related solution development.”
Samsung SDI signed a partnership with DNA Motors last year to supply battery cells.DNA Motors uses a battery pack exclusively from Misum, a battery pack company. DNA Motors holds the intellectual property rights of the battery pack and charging/exchange system
By Staff Reporter Taejoon Park (gaius@etnews.com)