Furthermore being developed are cylindrical batteries of the future.
The availability of lithium iron phosphate (LFP) batteries, primarily produced by Chinese firms, has been publicly declared by Samsung SDI. It appears to be connected to the creation of lithium iron phosphate batteries by domestic rivals LG Energy Solutions and SK On.
Phosphoric acid and iron are the cathode components used in lithium iron phosphate batteries. Having a backup strategy in place is a smart idea in case something goes wrong. Instead, it is renowned for being highly stable and reasonably priced.
During the 53rd shareholders’ meeting, which took place on April 15 at The-K Hotel in Yangjae-dong, Seoul, Choi Yoon-ho, CEO of Samsung SDI, spoke with reporters “One of the crucial platforms are lithium iron phosphate batteries. Lithium iron phosphate batteries are diligently preparing, “added he.
Up until this point, Samsung SDI has kept its planning or development of lithium iron phosphate batteries under wraps. It was decided to concentrate on high-end items that used ternary batteries. It was intended to replace lithium iron phosphate with cobalt-free (high manganese, etc.) solutions to address low-end batteries. All three domestic battery businesses, including LG Energy Solution and SK On, will offer complementary goods if Samsung SDI launches lithium iron phosphate batteries.
President Choi reported that when Lee Jae-yong, chairman of Samsung Electronics, visited the Suwon facility of Samsung SDI last month, he underlined the value of both technology and people resources.
President Choi added, “The CEO of the company is in charge of running the operations, but (Chairman Lee) spoke extensively about the value of technology and top-notch personnel.
“We are going after it,” he remarked.
The pilot line for all-solid-state batteries, or S line, will shortly be finished. Prototypes will begin to be made in the first part of this year. 2027 is the intended year for mass manufacturing. With various clients, the 4680 standard cylindrical battery—which has the dimensions of 46 mm in diameter and 80 mm in height—is now being discussed. BMW and Volvo are mentioned as prospective clients in the industry.
All five items on the agenda for the general meeting of shareholders were approved, including: the approval of financial statements; the appointment of directors; the appointment of members of the audit committee; the appointment of Wonwook Choi as an outside director who will serve on the audit committee; and the approval of the cap on director compensation. Vice Chairman Jeon Young-hyeon was reappointed as an inside director, and Kwon Oh-gyeong and Kim Deok-hyun were reappointed as outside directors, according to the appointment of directors.
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