SK On will debut its high-voltage mid-nickel battery at InterBattery 2025. (Image courtesy of SK On)
SEOUL, March 3 (Korea Bizwire) — South Korea’s three major battery manufacturers are broadening their product lines with new mid-nickel batteries that promise an optimal balance of cost and performance, responding to growing demand for affordable electric vehicles amid efforts to overcome the electric vehicle market’s “chasm” – a temporary stagnation in demand.
SK On will debut its high-voltage mid-nickel battery at InterBattery 2025, South Korea’s largest battery exhibition, running from March 5 to 7. Mid-nickel batteries, which contain 50-70% nickel in their NCM (nickel-cobalt-manganese) cathodes, are gaining attention for combining the high energy density of high-nickel batteries with the cost efficiency and thermal stability of LFP (lithium iron phosphate) batteries.
SK On’s new high-voltage mid-nickel battery achieves cost competitiveness by reducing expensive nickel and cobalt content while utilizing high voltage to maintain energy density. The company has improved stability and battery life through various technologies, including cathode interface protection electrolyte additives, single-crystal active materials, and special doping solutions.
LG Energy Solution has identified high-voltage mid-nickel batteries as one of its four major medium-to-long-term strategies. The company plans to begin mass production of its high-voltage mid-nickel NCM batteries this year, targeting an energy density of 670Wh/L while improving cell stability by 30% and reducing costs by 8% compared to high-nickel batteries. Last September, LG Energy Solution unveiled its pouch-type high-voltage mid-nickel cell-to-pack (CTP) technology at IAA Transportation 2024, the world’s largest commercial vehicle exhibition.
Samsung SDI has been showcasing its prismatic mid-nickel NMX (cobalt-free) batteries at various exhibitions, including InterBattery. The NMX battery, part of Samsung SDI’s mid-to-low-price battery strategy, features reduced nickel content and increased manganese proportion while eliminating cobalt. The company is accelerating its product portfolio overhaul by developing high-voltage mid-nickel NCM batteries targeting the compact electric vehicle market.
Market research firm EV Volumes projects that by 2030, mid-to-low-price range electric vehicles will account for 81% of the global market (66% mid-range and 15% low-range), with premium vehicles representing only 19%. Meanwhile, Chinese manufacturers have gained significant market share with their cost-competitive LFP batteries. According to SNE Research, LFP batteries now comprise 45% of global battery usage, up from about 25% in 2021.
All three Korean battery makers are expected to continue developing products aligned with market trends and customer needs. LG Energy Solution recently announced during an earnings conference call that it plans to expand its lineup based on chemistry technology, developing both high-voltage mid-nickel and LFP batteries in pouch and prismatic formats according to customer requirements.
Samsung SDI’s strategy involves maintaining a comprehensive battery portfolio ranging from premium high-nickel NCA (nickel-cobalt-aluminum) batteries to mid-nickel NCM and LFP options for the mid-to-low-price vehicle market. SK On’s vice chairman Yu Jeong-joon and CEO Lee Seok-hee emphasized in their New Year’s address the need to accelerate product portfolio expansion to effectively respond to rapidly changing market and customer demands.
“All three companies are continuously working to develop products optimized for market trends and customer requirements,” said an industry insider. “As the electric vehicle market diversifies, the battery industry is focusing on expanding product portfolios to provide customers with broader choices.”
Kevin Lee (kevinlee@koreabizwire.com)
