LG Energy Solution says it will overtake CATL in the EV battery market

Changan, CATL, and Huawei have launched their second model - the Avatr 12. The sporty fastback made its European debut at the IAA Mobility 2023 in Munich and will enter production later this week. The vehicle is 5020 mm long, 1999 mm wide, 1460 mm high, and has a wheelbase of 3020 mm. The front and rear tracks measure 1688 mm and 1702 mm, respectively. The front fascia includes an active grill at its lower part...

5 September 2023

Reuters reports that CATL will produce its Shenxing battery in Germany and Hungary. The information comes from Gao Pengfei - CATL's chief engineer. The information has been shared at the IAA Munich today. CATL's stand at the show is E30 in Hall A2 of the Munich Exhibition Center and you can visit it from today until September 8th. The Shenxing battery was announced three weeks ago and according to Gao Huan, CTO of...

4 September 2023

LG Magna e-Powertrain, the JV between LG Electronics and Magna formed in 2021, announced at IAA Mobility 2023 that it is expanding its footprint with a new facility in Miskolc, Hungary. The facility will be in Miskolc’s industrial area which features well-developed infrastructure and is strategically located near OEM customers and other Magna facilities throughout the region. The company has also received strong...

4 September 2023

Business Korea reports that according to its industry and government sources, Samsung SDI and the Ulsan city officials are in talks regarding the expansion of the company's Ulsan plant with an LFP battery production line. If these talks lead to actual construction, this will be the first lithium iron phosphate (LFP) battery production facility in South Korea. This type of battery is less efficient than the NMC one...

21 August 2023

Today CATL launched Shenxing, the world's first 4C superfast charging LFP battery, capable of delivering 400 km of driving range with a 10-minute charge as well as a range of over 700 km on a single full charge. Shenxing is expected to considerably alleviate fast charging anxiety for EV users, and opens up an era of EV superfast charging. Shenxing leverages the super electronic network cathode technology and fully...

16 August 2023

It was as early as this January that a CATL-led consortium and Bolivia have reached an agreement for the development of lithium in the country. The government-led Yasimientos de Litio Bolivianos has signed this agreement with the consortium to jointly exploit, refine, process, and market lithium resources on January 20. This past Sunday, the Minister of Hydrocarbons and Energy, Franklin Molina, announced that the...

23 June 2023

LG Energy Solution and Honda marked another major milestone of construction for its new joint venture EV battery facility this week when the first steel beam was installed at the plant site in Jeffersonville, Ohio. The companies have committed to invest $3.5 billion, with plans to create 2,200 jobs, in the over 2 million square feet facility, with an overall investment projected to reach $4.4 billion. The new joint...

21 June 2023

SNE Research reported that the global EV battery market has recorded a 38.6% YoY growth in Q1 of 2023. The total amount of energy held by batteries for pure EVs, PHEVs, and HEVs was around 133 GWh. CATL remains the top market player with a growth rate of 35.9% and 35% market share. BYD experienced a staggering growth in the Q1 of 115.5% but ranks second in market share with 16.2%. LGES is third with a growth rate of...

5 May 2023

CATL launched condensed battery, a cutting-edge battery technology at Auto Shanghai. With an energy density of up to 500 Wh/kg, it can achieve high energy density and a high level of safety at the same time in a creative manner, opening up a brand-new electrification scenario for passenger aircrafts. CATL can achieve mass production of condensed batteries in a short period of time. To address the changes of the...

19 April 2023

CATL's first sodium-ion battery will power Chery EV models. This was announced by CATL on Twitter. At the same time, Chery Auto held a press conference during which it presented its new iCar brand and also confirmed that CATL's first sodium-ion battery will power its EV models including the iCar GT two-door coupe and the iCAR 03. CATL and Chery Auto also jointly announced at the event that the two companies create a...

18 April 2023

LG Energy Solution today announced it will invest approximately KRW 7.2 trillion (USD 5.5 billion) to construct a battery manufacturing complex in Queen Creek, Arizona. The complex will consist of two manufacturing facilities - one for cylindrical batteries for electric vehicles (EV) and another for lithium iron phosphate (LFP) pouch-type batteries for energy storage systems (ESS). It marks the largest single...

24 March 2023

Piedmont Lithium, a leading global developer of lithium resources critical to the U.S. electric vehicle supply chain, announced that it has signed agreements with LG Chem, under which LG Chem will make a $75 million equity investment in Piedmont and commit to the offtake of 200,000 metric tons of spodumene concentrate (SC6) from Piedmont's jointly-owned North American Lithium over a four-year term. LG Chem will...

19 February 2023

Ford has committed to producing both nickel cobalt manganese (NCM) and lithium iron phosphate (LFP) batteries in the U.S. The brand is investing $3.5 billion to build the country’s first automaker-backed LFP battery plant, offering customers a second battery technology within Ford’s EV lineup. This plant – called BlueOval Battery Park Michigan – initially will employ 2,500 people when production of LFP batteries...

14 February 2023

According to SNE Reasearch, the global battery usage for 2022 has been 518GWh - a 517.9% growth YoY. For this year, the research agency expects 749 GWh of batteries to be deployed in EVs, PHEVs, and HEVs. Being a South Korean company, SNE Research pays special attention to the three local companies that are major players in the EV battery market - Samsung SDI, SK On, and LG Energy Solution. Their production is...

8 February 2023