The private and public sectors will invest 23.3 billion won by 2026 with the aim of developing lithium iron phosphate (LFP) batteries with the best performance in the world.
The Ministry of Commerce, Industry and Energy announced on the 1st that it will confirm the implementing agency for ‘high-performance LFP battery anode material, electrolyte, and cell manufacturing technology development project’ and promote government research and development tasks. The government plans to invest 16.4 billion won and private companies 6.9 billion won.
Despite its price advantage, LFP batteries have been recognized as the exclusive property of Chinese companies with a low level of technology due to their clear limitations due to their low energy density and short mileage.
However, the price of key minerals for nickel, cobalt, and manganese (NCM) batteries has increased dramatically recently, and the performance of LFP batteries has also improved, leading to rapid growth in the related market.
In response, Industry Minister Lee Chang-yang announced at a national strategy meeting chaired by President Yoon Seok-yeol on the 20th of last month, public and private efforts to dominate the global market for all battery products, such as ensuring the best in the world of competitiveness in LFP batteries.
This public-private project has two goals: ▲ localization of LFP battery cathode materials and ▲ development of LFP battery cell manufacturing technology with the world’s highest energy density.
In particular, in order to develop a product with an energy density of up to 200Wh, which is currently at the level of 160Wh per 1kg, the anode electrode is made thicker than before so that ions can be contained lithium in the cell as much as possible, and the thicker anode electrode does not restrict the free movement of lithium ions. We intend to develop a suitable electrolyte to prevent this.
To this end, major companies such as Samsung SDI·Shemeka (battery), Ecopro BM (cathode material), Dongwha Electrolite (electrolyte), and CIS (equipment) will participate.
Academics such as Kyonggi University, Sogang University, Seoul National University of Science and Technology, Sungkyunkwan University, Ajou University, and Hanyang University, as well as research institutions such as Institute of Ceramic Technology, Institute of Machine and Electricity Testing, and Institute of Chemical Research, will also take part.
Joo Young-joon, head of the Industrial Policy Office, said, “If our companies succeed in developing LFP battery technology that is superior to current technology through this project, they will ensure global competitiveness in all products battery.” All materials and equipment companies are involved, and we will expand this type of project in the future to create an industrial ecosystem that can dominate the global market in all value chains, from materials managers to finished products. “
[ 경기신문 = 박시형 기자 ]
