The world's second largest battery giant began to produce lithium iron phosphate batteries!

　　According to foreign media reports, LG Energy Solutions, a spin-off from LG Chem’s battery business, has been a large-scale company since its establishment. It is currently the world’s second largest battery giant and a major global battery supplier.

　　But surprisingly, LG Energy Solutions, a large-scale company that supplies batteries to many manufacturers, did not get involved early in the field of lithium iron phosphate batteries with better stability. It only started research and development last year. This was first reported by the Korean media.

　　South Korean media said in the report that LG Energy Solutions started to develop lithium iron phosphate battery technology in their laboratory in Daejeon, South Korea at the end of last year. The form is a soft bag.

　　The report mentioned that LG Chem may set up a joint venture with other manufacturers to supply the raw materials required for the production of lithium iron phosphate batteries for LG Energy Solutions.

　　Public information shows that LG Chem was founded in 1947. Since 1995, LG Chem has begun research on lithium-ion batteries. In 1999, LG Chem became the first domestic company to mass-produce small lithium-ion batteries.

　　In 2000, LG Chem began researching and developing power lithium batteries at its Michigan R&D base. In 2009, LG Chem first applied its independently developed lithium-ion batteries to commercial electric vehicles.

　　In December 2020, LG Chem released the benchmark for the spin-off of the battery business and established it as a new company (currently LG New Energy).

　　In the field of power batteries, in 2020, LG New Energy once surpassed the CATL and ranked first in the world. It was not until September 2020 that the CATL "retaken" the world's number one throne and lasted until the end of the year.

　　From the perspective of the whole year of 2020, the market share of power lithium battery shipments of CATL is only 1% higher than that of LG New Energy.

　　It is worth noting that due to battery problems, LG New Energy is expected to lose more than 5.6 billion RMB in the electric vehicles recalled by Hyundai Motor; the two recalls of electric vehicles by GM are also related to LG New Energy's battery defects.

　　It is understood that GM’s recall is expected to cost US$1 billion (about 6.5 billion RMB), and GM said it is considering a claim against battery supplier LG New Energy.

　　LG New Energy urgently needs to improve the safety of power batteries. It just so happens that the lithium iron phosphate battery is a good choice. Lithium iron phosphate batteries are being used on a larger scale with their advantages of safety, lower cost, and longer life.

　　LG New Energy has already deployed lithium iron phosphate batteries. In the future, battery giants such as Panasonic, Samsung SDI, SKI and other battery giants may deploy lithium iron phosphate batteries!