Samsung SDI has confirmed that it was developing lithium iron phosphate (LFP) battery after its shareholders’ meeting.
LFP batteries are mostly made by Chinese companies but their popularity has spurned South Korean battery makers LG Energy Solution and SK On to develop them as well.
LFP batteries have generally lower energy density than those based on nickel but are also more stable and relatively cheaper.
Samsung SDI CEO Choi Yoon-ho told reporters right after the end of this year’s shareholders’ meeting that the LFP battery was one of the important platforms in the electric vehicle space.
Choi said for business and customer diversification Samsung SDI was working hard on LFP batteries.
The Korean battery maker had in the past said it plans to focus on high-end batteries and aimed to offer budget batteries in cobalt-free form instead of LFP.
Choi said Samsung chairman Lee Jae-yong stressed the importance of technology and talent during his visit to Samsung SDI’s operation at Suwon.
Meanwhile, Samsung SDI is expected to finish the construction of its solid-state battery production line.
The line will start trial production this year and is planning to start commercial production in 2027.
Samsung SDI is also planning to supply 4680 batteries, likely to BMW or Volvo.