SK On is considering developing LFP batteries
SK Innovation’s battery unit, SK On, is now finally considering developing LFP (LiFePO4) batteries for electric vehicles. This decision comes shortly after its domestic competitor, LG Energy Solution announced that’s already developing EV batteries with this cobalt-free chemistry – that should become available next year.
According to SK On top officials, the biggest advantages of the LFP battery chemistry are cost and safety.
Jee Dong-seob, CEO of SK On, admitted to Reuters that “there is an interest in LFP technology from automakers”.
For a long time Korean battery cell makers have ignored and demised LFP as a low quality Chinese battery chemistry compared to “much superior” NCM batteries made by domestic companies. Only very recently Korean battery cell makers started to recognize that the LFP chemistry has very appealing characteristics to automakers, such as low cost and high safety, which are essential to mass produce electric cars and make them mainstream.
Anyway, it’s always great to see another battery cell maker jumping on the LFP bandwagon. By next year this cobalt-free battery chemistry will experience considerable improvements in the energy and power density areas.