April 22, 2024
Tesla orders 6 trillion electrodes from LG Energy Solution – In-house battery production. It was confirmed that Tesla, an American electric vehicle company, ordered electrodes worth 6 trillion won from LG Energy Solutions. It is presumed that Tesla has begun producing its own batteries, as it requested electrodes processed from raw materials rather than finished battery cells. This is an exclusive report by reporter Seohu Lee. What about we co-host a webinar? Let’s educate, captivate, and convert the battery economy! Batteries News is the global go-to online magazine for the battery industry, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details LG Energy Solutions is pursuing an electrode supply contract worth 6 trillion won with Tesla. An official familiar with the industry said: Tesla’s purchasing team recently ordered electrodes worth 6 trillion won from LG. “Detailed discussions are currently underway and a contract is expected to be signed in the second half of the year.” He said, “Supply will begin next year and is estimated to last 6 to 7 years, which coincides with Tesla’s facelift release cycle.” Battery manufacturers process anode and cathode materials together with conductive materials and binders to create electrodes, assemble them into battery cells, and supply them to automobile manufacturers. Tesla ordered electrodes just before assembly. The 6 trillion won worth of electrodes ordered by Tesla is estimated based on cathode materials to be installed in 1.3 to 1.4 million electric vehicles, equivalent to about 70% of Tesla’s total production last year (1.84 million units). An industry insider analyzed: This means that we will make battery cells ourselves by receiving electrodes, which are key materials, Tesla’s internalization of batteries has begun. [Park Gwang-jin / Professor of Battery Department, Gachon University: I think we should first receive electrodes from the battery company in order to internalize them step by step. They leave it to the battery company and do the assembly later… ] Tesla declared that it would develop its own batteries through an innovative process, but it has already passed the 2023 target date for mass production. In order to secure price competitiveness in a situation where cheap Chinese electric vehicles are pouring in, Tesla must lower the price of batteries, which account for 30-40% of the cost of electric vehicles. The analysis is that it chose to cooperate with LG Energy Solution to compete with China’s BYD, which is the only global automaker to internalize all processes from battery development, design, and mass production. LG Energy Solution can also utilize surplus inventory without additional investment, which can be a breakthrough in the sluggish industry. LG Energy Solutions is known to be considering building electrode factories overseas, including in Poland, ahead of signing a large-scale supply contract. READ the latest Batteries News shaping the battery market Tesla orders 6 trillion electrodes from LG Energy Solution – In-house battery production. source Battery Production