LG Energy Solution showcases cutting-edge battery

LG Energy Solution participates in the Interbattery 2024 Exhibition. [LG ENERGY SOLUTION]

LG Energy Solution showcased its distinctive battery technology at the Interbattery exhibition held in March, the largest event highlighting the domestic rechargeable battery industry.

At the event, the company revealed its pouch-type battery, Cell To Pack (CTP), and a small pouch cell that incorporated mid-nickel (Mid-Ni) for the first time.

The CTP technology is a cutting-edge pack design that attracted the most attention at the event and is receiving immense interest in the contemporary EV battery industry.

The technology has successfully increased energy density while reducing battery weight and cost by eliminating the module stage from the existing battery composition and directly assembling the cell onto the pack.

The pouch-type CTP developed by LG Energy Solution boasts the advantage of being lightweight, a characteristic typical of pouch cells, while also displaying enhanced durability and verified heat spread prevention technology, thereby boosting its safety.

The company also streamlined the components of the pack and simplified the production process, resulting in reduced production costs and strengthened price competitiveness.

It is speculated that the capabilities of the CTP technology will empower the company to effectively spearhead the popularization of EVs.

LG Energy Solution’s mid-nickel small pouch battery for IT devices is the first in the industry to enable the actualization of high-voltage areas that are difficult through the mid-nickel composition alone.

At the 2024 Interbattery Awards, which held its inaugural ceremony in 2024, the Mid-Ni Pure NCM was given the Best Innovator Award.

It is anticipated that the technology will make critical contributions to the diversification of the IT device battery industry as it can secure price stability relatively better than that of the existing LCO (Lithium Cobalt Oxide) battery.

LG Energy Solution displayed the JF1 DC-Link, the first product in the standardized LFP (Lithium Iron Phosphate) power grid ESS (Energy Storage System) lineup as well as the new residential ESS product, enblock S.

The company’s introduction of next-generation battery technologies, such as solid-state batteries, lithium-sulfur batteries and lithium-metal batteries demonstrated its diverse product portfolio and technological expertise spanning from low-end to premium-level batteries.

LG Energy Solution is confident that it will solidify its competitiveness, despite the slowdown in demand in the EV market, by procuring opportunities that will fuel its growth momentum through its three core strategies: Constructing technological leadership, securing production cost competitiveness and preparing for future businesses.

First and foremost, the company plans to construct technological leadership that overwhelms its competitors.

The company will strive to meet customers’ needs in all areas by strengthening the capabilities of its premium product, High-Ni NCMA, while accelerating the development of Mid-Ni NCM and LFP battery technology to target the mid-low price market.

In the field of small batteries, the company seeks to position itself at the head of the market by embarking on mass production of the 46-Series in the second half of the year.

For its ESS business, the company will offer LFP products, which began production at the end of last year, to the market and expand its comprehensive solution business.

The company also aims to secure a structurally resilient cost competitiveness against external risks.

This involves enhancing fundamental cost competitiveness through an expansion of areas for the direct sourcing of raw materials, transitioning key materials through technological development and strengthening direct investments in the supply chain.

Furthermore, the company plans to improve productivity and quality through a smart factory framework to reduce fixed costs, as well as rationalize operating expenses such as logistics and utilities.

Finally, the company is intensifying its preparations for future businesses for sustainable growth.

It will concentrate on the development of next-generation batteries, aiming for mass production of lithium-sulfur batteries by 2027.

The company will expedite the development of dry electrode technology, which has advantages in energy density and cost, and begin mass production of products based on new stacking technology starting this year.

Additionally, the company will continue efforts to establish a closed-loop resource circulation system by solidifying collaboration with regional partners, aiming to lead the metal recycling industry.

“This year will mark the starting point of the 'LG Energy Solution 2.0 era,' based on a strengthening of fundamental competitiveness such as technological leadership and realizing differentiated customer value," said LG Energy Solution CEO Kim Dong-myung.

BY JEONG SEONWU [jeong.seonwu@joongang.co.kr]