LG and SK are actively expanding their battery business. In response to the growth of the electric vehicle market, it is targeting new markets not only for batteries but also in next-generation materials and battery recycling. K-battery industry's business is under the spotlight for how far its expansion will continue.
LG Chem will develop a 'cobalt-free' battery cathode material by 2025. Cathode materials that do not use cobalt are considered as next-generation materials to be used to electric vehicle batteries. This is the first time that LG has unveiled a plan to develop a cobalt-free cathode material.
At the keynote lecture on the 4th day (9th) of 'Global Tech Korea 2021’ held at COEX in Samseong-dong, Gangnam-gu, Young-min Choi, head of LG Chem's Battery Materials Center, said, "We are developing cathode materials for electric vehicle batteries that do not use cobalt completely. We are making thorough preparations to usher in the era of electrification of automobiles with automakers and battery makers.” LG Chem’s goal is to have cobalt-free battery by 2025 and development of cathode materials with 1 to 2% cobalt before that.
A cobalt-free cathode material is a material that has a potential to lower the price of batteries for electric vehicles. It can lower the manufacturing cost of batteries, which are core parts of electric vehicles, to less than $100 per kilowatt (kW). The best method for conventional cathode materials was to reduce cobalt to 5% or less among nickel...
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