Korean battery makers zero in on global commercial EV market

Korean battery makers Samsung SDI and LG Energy Solution are putting considerable effort into boasting their latest technologies in the commercial electric vehicle sector at the ongoing IAA Transportation 2024 in Hanover, Germany.

The IAA, currently being held from Sept. 17-22, is one of the largest auto exhibitions in the world and alternates its focus between passenger and commercial vehicles each year. This year’s theme is commercial vehicles.

Samsung SDI has presented a lineup of next-generation batteries, such as LFP+, its lithium iron phosphate battery product optimized for electric commercial vehicles; 46-phi cylindrical batteries, which have a diameter of 46 millimeters; and solid-state batteries.

According to Samsung SDI, the LFP+ battery featuring the company’s new electrode technology has an energy density that is 10 percent higher than the previous LFP battery product.

Its endurance can last for at least 490,000 kilometers of driving. This means that an EV equipped with Samsung SDI’s LFP+ battery could have a lifespan capable of supporting over 1,400 round trips between Hanover and Frankfurt, Samsung SDI explained.

The LFP+ battery can reach an up to 80 percent charge in 20 minutes and includes safety technology that prevents heat spreading from one battery cell to another, the Korean firm added.

Samsung SDI has completed the product’s development and is now in talks with multiple customers regarding its mass production plans.

“Samsung SDI has always strived to lead the electric vehicle market based on differentiated technological prowess,” said Choi Yoon-ho, CEO of Samsung SDI. “The company will continue working closely with major customers around the world to provide top-quality and safety-ensured battery products.”

LG Energy Solution, which is taking part in IAA Transportation for the first time this year, is premiering its next-generation battery -- a pouch-style high-voltage mid-nickel Cell-to-Pack, or CTP, product -- at the event.

LG Energy Solution underlined that the new CTP battery features enhanced safety, a higher energy density, a lower price and a lighter weight. According to the company, the new CTP battery offers a maximum driving range of 600 kilometers for a large truck, with a lifespan that lasts about 5,000 cycles of charging. Even in the case of a battery fire, the company said the battery pack’s underbody venting technology would exhaust the heat and gas in a way designed to ensure safety.

LG Energy Solution is also displaying the rest of its battery portfolio for commercial EVs at the event, including cell and module products applied with high-capacity silicon anodes that shorten charging time; nickel, cobalt, manganese, and aluminum, or NCMA, products that offer high energy density and more safety; and 2170 cylindrical battery cells, modules and packs, which are already being used in the commercial EVs such as Isuzu’s electric trucks.

“The demand for high quality and high-performance products based on LG Energy Solution’s overwhelming technological leadership is growing in the commercial EV market,” said LG Energy Solution.

“We will establish ourselves as a market leader by advancing our product competitiveness and further solidifying customer values.”

LG Energy Solution has expanded partnerships in the global commercial EV sector this year, announcing supply agreements with Freudenberg Energy Power Systems and Isuzu Motors in April and January, respectively.

The global commercial EV market is expected to continue growing as the environmental regulations on combustion engine-powered commercial vehicles, such as trucks and buses, get tougher in Europe and North America. According to international market researcher Research and Markets, the global commercial EV market is estimated at $89.95 billion this year and is projected to reach $563.13 billion by 2034 with a compound annual growth rate of 20.13 percent.