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Sun, September 24, 2023 | 17:33
Tech
Battery makers seeking to reduce China dependency
Posted : 2020-12-25 09:10
Updated : 2021-02-24 19:35
Kim Bo-eun
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LG Energy Solution researchers pose with the company's battery cells at its R&D center in Daejeon, in this photo provided by the company, Wednesday. Courtesy of LG Energy Solution
LG Energy Solution researchers pose with the company's battery cells at its R&D center in Daejeon, in this photo provided by the company, Wednesday. Courtesy of LG Energy Solution

By Kim Bo-eun

Battery makers here are seeking to diversify their suppliers, as a means to reduce their dependency on sourcing from China, amid intensifying competition with China and Japan in the EV battery market.

Governments of the countries have pledged to foster the EV industry, and the battery market is heating up. Korea's LG Energy Solution (LGES), China's CATL and Japan's Panasonic are in a race to become the top supplier of EV batteries. Samsung SDI and SK Innovation have also seen a rise in market share.

Battery makers have mainly sourced materials from China, but as competition intensifies they are turning their attention to other countries as well.

This is seen as a strategy to secure a stable supply of materials to keep up with the demand and prepare for uncertainties surrounding China amid the competition.

LGES recently made a deal with the Chile-based lithium producer SQM for the second-largest producer of lithium to supply the metal for the next eight years. Under the deal, SQM will provide around 55,000 metric tons of lithium carbonate equivalent.

"We signed a long-term lithium contract with Chile's SQM to establish a stable material supply system," an LGES official said.

Earlier, LGES also signed a memorandum of understanding with the Indonesian investment authority. The agreement was launching battery-related businesses in Indonesia, ranging from mining raw materials to manufacturing battery cells.

The Southeast Asian country is an investment destination for EV and battery firms due to its abundant resources for materials. Indonesia has the largest nickel reserves in the world. Nickel is a key material in making batteries.

The latest moves by battery makers are in line with EV manufacturers' efforts to secure their battery and materials supplies. EV market leader Tesla has been seeking to ensure a stable supply through producing cells itself and even mining raw materials. GM set up a joint venture with LG ― Ultium Cells ― to produce EV batteries.

Battery manufacturers are also seeking to secure materials locally.

Samsung SDI, which has been receiving cathode materials from its affiliate STM, is seeking to increase self-sufficiency via a joint venture with the small local supplier EcoProBM. The plan unveiled in February last year drew attention because a joint venture with a local entity was unprecedented, given battery makers have mostly partnered with global companies. The new firm will only supply batteries to Samsung SDI.

LG, meanwhile, signed a contract with POSCO Chemical for the latter to supply cathodes to Ultium Cells. LG is also seeking to manufacture cathode materials as the company set up cathode material plants in China. The plants are set to supply LG's battery factory in Nanjing. LG is seeking to produce 30 percent to 40 percent of the cathode materials it needs on its own.

SK Innovation, currently the smallest local player in the EV battery market, is seeking to become a self-sufficient producer of separators, one of the four key components in EV batteries.

SK's affiliate SKIET, launched in April 2019, is producing separators at its plant in China. SK is also setting up additional plants in China and Poland.

SK Nexilis, acquired by SKC in 2019, is also part of SK Innovation's efforts to secure materials supply. SK Nexilis manufactures copper foil which is used to coat anodes in EV batteries. The unit has invested 240 billion won to add two new copper foil plants by 2022 at its production complex in Jeongeup, North Jeolla Province.


Emailbkim@koreatimes.co.kr Article ListMore articles by this reporter
 
miguel
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