Who makes lithium-ion batteries in South Korea?

A paid subscription is required for full access. In 2021, around 5.76 billion South Korean won worth of lithium-ion batteries were exported from South Korea. Leading lithium-ion battery makers in South Korea are LG Chem, Samsung SDI, and SK Innovation.

Why are lithium-ion batteries so popular in South Korea?

As some of South Korea's leading industries are tech-based, the minerals critical to producing these products have become a point of interest. Lithium-ion batteries are still a gold standard when it comes to battery production.

Which EV companies are using Chinese-made lithium iron batteries?

SK On customer Ford Motor Co (F.N) said last year it plans to offer Chinese-made lithium iron batteries from CATL (300750.SZ) in its Ford F-150 Lightning electric truck next year. Tesla Inc (TSLA.O) and EV startup Rivian (RIVN.O) also have announced plans to use LFP batteries.

Are lithium-iron batteries cheaper than nickel-cobalt batteries?

The cost advantage from lithium-iron chemistry depends on where the batteries are made, Lee said. LFP batteries made in China can have a 20% cost advantage over nickel cobalt batteries. LFP batteries produced in Europe can cost 15% less, he said. SK On plans to source its LFP batteries initially from China, Lee said.