[InterBattery] Fierce Battle for 'Industry First' Title... Words Left by Battery CEOs

Choi Yoon-ho "All-solid-state battery mass production target in 2027"
Kim Dong-myung "Will take time for perfection but will make it properly"
Lee Seok-hee "LFP development completed... mass production possible around 2026"
Kim Jun-hyung "No slowdown in secondary battery material investment"

CEOs of the three leading battery companies, fiercely competing for orders, gathered at ‘InterBattery 2024’ held at COEX in Gangnam-gu, Seoul, to directly announce their next-generation battery mass production plans. Samsung SDI and LG Energy Solution showed differing views on the mass production of all-solid-state batteries, known as the ‘dream battery,’ while SK On mentioned plans to mass-produce the affordable LFP (Lithium Iron Phosphate) batteries starting in 2026.

(From left clockwise) Kim Dong-myeong, President of LG Energy Solution; Choi Yoon-ho, President of Samsung SDI; Lee Seok-hee, President of SK On; Kim Jun-hyung, Head of Eco-friendly Future Materials at POSCO Holdings
[Image source=Yonhap News]

On the 6th, Samsung SDI President Choi Yoon-ho told reporters at the event that regarding the all-solid-state battery business status, "As previously announced, we are striving to achieve mass production by 2027." On this day, Samsung SDI presented the industry's first mass production plan for all-solid-state batteries.

All-solid-state batteries use solid electrolytes instead of liquid ones, reducing explosion risks and offering longer driving ranges, earning them the nickname ‘dream battery.’ Samsung SDI’s all-solid-state battery technology is considered the most advanced among the three battery companies. They are producing various prototypes at the ‘S Line,’ Korea’s first all-solid-state battery pilot line located in Suwon, Gyeonggi Province, and are in discussions with several customers.

On the other hand, LG Energy Solution President Kim Dong-myung expressed a stance on the all-solid-state battery business, saying, "We will take the time needed to make it properly." Kim said, "Since it is a future technology, we are preparing highly complete and practically applicable products," adding, "We will share more details once things are finalized."

On the 6th, at COEX in Gangnam-gu, Seoul, after the opening ceremony of 'InterBattery 2024,' Kang Kyung-sung, the 1st Vice Minister of the Ministry of Trade, Industry and Energy, Kim Dong-myung, President of LG Energy Solution and Chairman of the Battery Industry Association, Choi Yoon-ho, President of Samsung SDI, Lee Seok-hee, President of SK On, and other battery company representatives visited the LG Energy Solution booth to examine the vehicle platform equipped with cell-to-pack batteries.
[Image source=Yonhap News]

Instead, Kim emphasized that the company is discussing supply contracts for its self-developed pouch-type Cell to Pack (CTP) technology. Cell to Pack eliminates the module stage in the cell-module-pack structure by assembling cells directly into the pack. This increases energy density while reducing battery weight and cost.

SK On President Lee Seok-hee, appearing publicly for the first time since his appointment at the end of last year, revealed concrete plans to enter the LFP market, which is dominated by China. Lee said, "Internally, LFP battery development has been completed," and added, "Once detailed discussions with customers are finalized, we expect to start mass production around 2026."

Posco Group, which was once rumored to be reducing investments in secondary batteries, stated it will continue investments as planned despite the ‘demand chasm’ (temporary stagnation). Kim Jun-hyung, head of Posco Holdings’ Eco-friendly Future Materials division overseeing the secondary battery materials business, said, "Jang In-hwa, Posco Group’s next chairman candidate, also said there is no need to slow down the overall pace of secondary battery investments."

Kim added, "The chairman candidate places great emphasis on continuing to push forward with secondary battery investments to develop it as a future growth industry."

Koo Ja-eun, Chairman of LS Group, is being interviewed by the press at the battery exhibition 'InterBattery 2024' held at COEX in Gangnam-gu, Seoul on the 6th.
[Photo by Joint Press Corps]

Gu Ja-eun, chairman of LS Group, which officially entered the secondary battery materials business last year, also attended the event. He said, "Our goal is to take LS E-Link, an electric vehicle charging solutions affiliate, public through an IPO this year."

Gu Dong-hwi, CEO of LS MnM and eldest son of Gu Ja-yeol, chairman of LS Group’s board, told reporters that he plans to grow LS MnM’s secondary battery materials business and pursue a listing.

LS MnM, Korea’s largest non-ferrous metal materials company, entered the electric vehicle battery materials business last year alongside its decision to invest in a secondary battery materials plant in the second half of the year.

Koo Dong-hwi, CEO of LS MnM, is being interviewed by the press on the 6th at COEX in Gangnam-gu, Seoul, during 'InterBattery 2024'.
[Photo by Joint Press Corps]

This content was produced with the assistance of AI translation services.