Samsung SDI, the South Korean battery manufacturer, has confirmed its intention to develop lithium iron phosphate (LFP) batteries, a domain previously dominated by Chinese firms. LFP batteries utilise phosphoric acid and iron as cathode materials, trading a lower energy density for enhanced stability and cost-effectiveness.
CEO Choi Yoon-ho unveiled the company’s plans at a recent shareholders’ meeting in Seoul, marking a strategic shift from Samsung SDI’s previous focus on premium ternary batteries. This move will position Samsung SDI alongside domestic rivals LG Energy Solutions and SK On, which are also engaged in LFP battery development.
In addition, Samsung is progressing with its all-solid-state battery pilot lines and aims to commence mass production by 2027. The company is in talks with potential clients such as BMW and Volvo for its 4680 standard cylindrical batteries. During the shareholders’ meeting, several agenda items were approved, including director appointments and the endorsement of financial statements.