Samsung SDI officially announced the release of lithium iron phosphate (LFP) batteries. According to the information, the batteries are mainly made by Chinese companies.
Lithium iron phosphate batteries are products that use phosphoric acid and iron as cathode materials. The energy density is lower than that of ternary batteries using nickel, cobalt, manganese, etc. Instead, it is known for its high stability and relatively low price.
Choi Yoon-ho, CEO of Samsung SDI, met with reporters immediately after the 53rd shareholders’ meeting held at The-K Hotel in Yangjae-dong, Seoul on the 15th and said, “Lithium iron phosphate batteries are one of the important platforms. (Lithium iron phosphate batteries) are preparing diligently,” he said.
President Choi said, “The company’s CEO is responsible for running the business, but (Chairman Lee) talked a lot about the importance of technology and the importance of great talent.” We are actively pursuing it,” he said.
However, Samsung SDI has not officially disclosed the development or preparation of lithium iron phosphate batteries. Samsung’s SDI lithium iron phosphate batteries will be a competitor of all three domestic battery companies, including LG Energy Solution and SK On.
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