Korean battery manufacturers showed mixed reactions to Tesla’s new product
8. October 2020The three largest Korean battery manufacturers, which have a global market share of 30 percent in automotive batteries, are uncertain about Tesla’s new product launch, but at the same time have particular expectations of the new technology. The core of Tesla’s new technology is the “Roadrunner Project”, a blueprint for battery manufacturing. At Battery Day, industry experts saw a presentation of the current status of the project, which aims to reduce manufacturing costs and increase energy density and durability. Tesla also gave an outlook on future production processes for automotive batteries. The greatest strength of Tesla, the world’s number 1 in electric vehicles, is the vertical integration of semiconductors, electronic control systems and vehicle components used in electric vehicles.
Despite all the euphoria, Tesla is currently dependent on external suppliers for vehicle batteries. The possibility of an in-house production of solid state batteries at Tesla gained substance after taking over Maxwell, a battery manufacturer. However, analysts do not yet see Tesla’s own batteries ready for series production due to technical challenges. Experts therefore speculate that Tesla is working on a new technology for lithium ion phosphate (LFP) batteries in cooperation with the Chinese battery manufacturer CATL.
Although the three largest Korean battery manufacturers are concerned about Tesla’s entry into the automotive battery market, it is also hoped that this will have positive effects in terms of a growing market and increasing acceptance of electric vehicles. A spokesman for Korean industry said: “Tesla has triggered a boom for electric vehicles and their entry into the battery business will also bring benefits to Korean companies. Competition will boost the market and bring new technologies to market faster”. An industry insider also urged prudence: “Even though Tesla will introduce innovative technologies, it will still be difficult to compete with the decades of development work and experience of specialized battery manufacturers.” The South Korean companies LG Chem, SK Innovation and Samsung SDI are among the leading battery manufacturers and have a global market share of 30 percent.
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