Participated in 'ees Europe 2022' in Germany
Applied world's first pouch method
20-30% cheaper than NCM
Entering overseas markets with price competitiveness
LG Energy Solutions unveiled a lithium iron phosphate (LFP) battery cell for energy storage systems (ESS) for the first time. LFP is the main active anode material that led the Chinese battery market share to the top, and this is the first time that a South Korean company has adopted LFPs.
LG Energy Solutions unveiled LFP cells for ESS linked to power grids at 'ees Europe 2022', the world's largest ESS exhibition held in Munich, Germany for three days from the 11th (local time). The ESS, which was completed as a prototype, applied a pouch method to the LFP cells developed by LG Energy Solution. They are the first in the world to apply a pouch instead of a square to an LFP battery.
The energy capacity of the cells were developed in two models: 182Wh and 444Wh. They can be manufactured as large-capacity ESS based on customer demands via series parallel circuits. LG Energy Solution's unique 'lamination and stacking' method was applied.
LG Energy Solutions is targeting overseas markets with LFP ESS. There has been minimal domestic performance for the past three to four years due to a series of fire accidents in the battery industry, and so this move is being interpreted as a strategy to rebound in the market by using the price competitiveness of LFPs, which are 20 to 30% cheaper than existing ternary (NCM) batteries.
Earlier this year, LG Energy Solutions acquired a 100% stake in NEC Energy Solutions, a U.S. company specializing in ESS system integration (SI). This is to strengthen business competitiveness in all directions, from simple battery supply to large-scale ESS construction and follow-up management.
An official from LG Energy Solution said on the 11th, “If we secure LFP batteries following the ternary system (NCM), our competitiveness in the global market will further increase.”
Professor Chul-wan Park of Seojeong University said, "Adding LFP ESS products to the lineup is a positive move," adding, "If we focus on targeting the ESS market and work on building up the lifespan and reliability of our charging and discharging performance, we may have a chance of winning.”
By Staff Reporter Tae-jun Park firstname.lastname@example.org