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| Ford Mustang Mach-E SUV and Lucid Air are on display at LG Energy Solution's exhibition booth during InterBattery 2023 at COEX in Seoul, Wednesday. Yonhap |
LS Electric chairman calls for gov't support for ESS industry
By Park Jae-hyuk
InterBattery 2023, the largest battery exhibition in Korea to be held for three days at COEX until Friday, seemed more like a motor show this year, as all of the top three battery manufacturers here showcased electric vehicles (EVs) of global carmakers using their products.
LG Energy Solution (LGES), Korea's leading EV battery maker in terms of market share, displayed Ford's Mustang Mach-E SUV and Lucid Motors' luxury sedan, Lucid Air, both of which are not on sale in Korea.
The EVs on display caught the attention of visitors, prompting some of them to wonder if the two U.S. carmakers were preparing to sell those vehicles in the Korean market.
"Here we also have our batteries used for Tesla's vehicles," an LGES employee said, introducing miniatures of Tesla Model 3 and Model Y, as well as GMC Hummer EV and Hyundai IONIQ 6, which were displayed with miniatures of batteries used for those vehicles.
Samsung SDI, which showcased all-solid-state batteries, exhibited Volvo's FM Electric tractor truck and the BMW i7.
CEO Choi Yoon-ho of the Samsung affiliate, who attended the general meeting of the company's shareholders earlier that day, also told reporters that he had in-depth talks with General Motors officials recently to promote long-term cooperation between the two companies.
Choi added at the shareholders' meeting that his company is set to produce cost-effective lithium iron phosphate (LFP) batteries. This was the first time that Samsung SDI unveiled its plan to produce LFP batteries, which have been supplied mostly by Chinese firms.
SK On, which unveiled a replica of its prismatic cell, exhibited the Genesis GV70.
The battery firm has also drawn attention as Executive Vice Chairman Chey Jae-won had a meeting in Seoul on Tuesday with CEO Jim Rowan of Volvo Cars, China's Geely-owned carmaker which was initially expected to cooperate with Samsung SDI.
"They had a 40-minute tea meeting to seek cooperation in the future," an SK On spokesperson said.
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| Dutch Trade Minister Liesje Schreinemacher listens to an SK On employee at the Korean battery maker's exhibition booth during InterBattery 2023 at COEX in Seoul, Wednesday. Korea Times photo by Park Jae-hyuk |
On its opening day, the battery show was attended by thousands of visitors.
The visitors included LS Electric Chairman Koo Ja-kyun and his nephew, Executive Vice President Koo Dong-hwi, as well as independent lawmaker Rep. Yang Hyang-ja and Dutch Trade Minister Liesje Schreinemacher. They toured the exhibition pavilions of the three EV battery makers and POSCO Chemical, which showcased a full lineup of its cathode and anode products.
LS Group also opened its exhibition booth at InterBattery to display its energy storage system (ESS) technologies.
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| LS Electric Chairman Koo Ja-kyun, front row second from left, and independent lawmaker Rep. Yang Hyang-ja, front row third from left, listen to a Samsung SDI employee at the company's exhibition booth during InterBattery 2023 at COEX in Seoul, Wednesday. Korea Times photo by Park Jae-hyuk |
In particular, the LS Electric chairman asked Rep. Yang to convince the government to support Korea's ESS industry.
"Just as the Taiwanese government supports TSMC's semiconductors and the Chinese government supports CATL's batteries, the Korean government needs to support the country's ESS industry," the chairman said.
Rep. Yang reportedly responded positively during their closed-door meeting at the Samsung SDI booth.
First Vice Minister of Trade, Industry and Energy Jang Young-jin said at the event's opening ceremony that the government seeks to offer tax incentives for investments in the nation's battery industry and to ease regulations that hinder exports and investments.
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