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EV-a2z > News > LGES doubles down on prismatic battery technology for electric vehicles
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LGES doubles down on prismatic battery technology for electric vehicles

EV-a2zm
Last updated: 2024/08/09 at 10:37 PM
EV-a2zm Published August 9, 2024 3 Min Read
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South Korean battery giant LG Energy Solution (LGES) is betting big on prismatic battery cell production as the market starts to shift toward this innovative technology.

Contents
LGES shifts focus to prismatic batteries for future growthIntensifying race in prismatic battery techPrismatic batteries’ growing popularity

LG Energy Solution goes all-in on prismatic batteries https://t.co/pLZT7mwWiZ pic.twitter.com/pb69wl7Chh

— Roger Holden (@RogerHolden18) August 8, 2024

LGES shifts focus to prismatic batteries for future growth

LGES has established a task force to oversee its prismatic battery cell development, according to S&P Global AutoTechInsight.

The South Korean company is also already in talks with potential customers about its upcoming prismatic battery products, signifying a major pivot in its strategic focus.

LG Energy Solution Forms Task Force to Develop Prismatic Batteries for EV Market https://t.co/FKMSXEPxMK pic.twitter.com/EQRYSuQWWe

— EVMagz – Electric Vehicles Magazine (@evmagz) August 8, 2024

Impressively, the move will make LGES the first-ever global battery maker to offer all three formats: prismatic, cylindrical, and pouch-type.

Intensifying race in prismatic battery tech

LGES and other South Korean battery makers have reportedly witnessed the growing popularity of prismatic battery cells for electric vehicles.

LG, Samsung, SK focus on prismatic batteries

Korea’s major battery manufacturers – LG Energy Solution, Samsung SDI and SK On – are betting big on prismatic batteries due to their superior safety compared to the pouch-type option, according to data and company officials, Monday pic.twitter.com/uZ20GVH05Q

— John Marcellus (@safespace4space) August 5, 2024

It prompted fellow South Korean players, including  Samsung SDI and SK ON, to explore prismatic battery cell development. The latter has already designed its prismatic form factor technology, with ongoing preparation for mass production.

“The technology development for the prismatic form factor has been completed, and we are in detailed discussions with multiple clients regarding the timing of mass production.”

Kim Kyung-hoon, Chief Financial Officer of SK On, stated in a Q2 earnings conference call

In hindsight, LGES initially developed prismatic batteries in the 1990s and mass-produced them for small devices until the late 2010s. However, prismatic cells for EVs will likely be way larger than early models used in smaller gadgets.

On the other hand, Samsung SDI has been the only local supplier of prismatic cells in the country for some time already. Therefore, it may have a competitive advantage against SK On and LGES in this field.

“Prismatic batteries will gradually widen its portion in the global EV market, as is shown by growing request for collaboration from EV manufacturers.”

Samsung SDI Executive Vice President Michael Son

Prismatic batteries’ growing popularity

Prismatic batteries accounted for 19% of the battery market in Europe in 2019, according to SNE Research.

Their market share dramatically increased to 49% as of 2023, outpacing previously leading battery formats such as pouch-type cells (35% share). For reference, pouch-type cells used to be the most popular option in Europe, with a 46% market share in 2019.

On the other hand, cylindrical batteries’ market share in Europe dropped from 35% in 2019 to 16% by 2023.

LGES contends that this major shift underscores the increasing preference of electric automakers for prismatic batteries over pouch and cylindrical batteries. The growing popularity of prismatic batteries is unsurprising, considering their incredible resistance to external shocks and high durability due to their aluminum can housing.

In addition, they also support simpler manufacturing processes and lower production costs, making them suitable for mass production.

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TAGGED: Battery, Electric Vehicle, EV, LGES, South Korea
EV-a2zm August 9, 2024 August 9, 2024
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