At the present IAA Transportation 2024 in Hanover, Germany, Korean battery manufacturers Samsung SDI and LG Energy Solution are making a big show of showcasing their most recent innovations in the commercial electric vehicle space.
One of the biggest auto shows in the world, the IAA varies its focus between passenger and commercial cars every year. It is currently taking place from September 17–22. The topic for this year is commercial vehicles.
Samsung SDI has unveiled a range of next-generation batteries, including solid-state batteries, 46-phi cylindrical batteries with a diameter of 46 millimeters, and LFP+, a lithium iron phosphate battery product designed for electric commercial vehicles.
Samsung SDI claims that the energy density of the LFP+ battery, which uses the company’s new electrode technology, is 10% higher than that of the LFP battery product from earlier.
Its endurance is good for a minimum of 490,000 miles of driving. According to Samsung SDI, this implies that an EV outfitted with its LFP+ battery would be able to sustain more than 1,400 round trips between Hanover and Frankfurt over the course of its lifetime.
The Korean company also stated that the LFP+ battery has safety features that stop heat from transferring from one battery cell to another and can obtain an 80 percent charge in 20 minutes.
After completing the product’s development, Samsung SDI is currently discussing its plans for mass production with a number of customers.
Samsung SDI CEO Choi Yoon-ho stated, “Samsung SDI has always strived to lead the electric vehicle market based on differentiated technological prowess.” “The company will keep collaborating closely with significant global clients to deliver superior, safety-guaranteed battery products.”
This year, LG Energy Solution, which is new to IAA Transportation, is showcasing its next-generation battery at the show. It is a high-voltage, mid-nickel Cell-to-Pack, or CTP, product that is designed like a pouch.
The new CTP battery has improved safety, a higher energy density, a lower cost, and a lighter weight, according to LG Energy Solution. The new CTP battery, according to the manufacturer, has a 5,000 cycle lifespan and a maximum driving range of 600 kilometers for heavy trucks.
The remainder of LG Energy Solution’s battery portfolio for commercial EVs will also be on display at the event. This includes cell and module products that are applied with high-capacity silicon anodes to reduce charging times; products made of nickel, cobalt, manganese, and aluminum, or NCMA, which provide increased safety and high energy density; and 2170 cylindrical battery cells, modules, and packs, which are already utilized in commercial EVs like Isuzu’s electric trucks.
According to LG Energy Solution, “the demand in the commercial EV market is growing for high-quality and high-performance products based on LG Energy Solution’s overwhelming technological leadership.”
“We will further solidify customer values and advance our product competitiveness to establish ourselves as a market leader.”
This year, LG Energy Solution has increased its global alliances in the commercial EV market. Freudenberg Energy Power Systems and Isuzu Motors announced supply agreements in April and January, respectively.
As environmental laws on combustion engine-powered commercial vehicles, such as trucks and buses, increase stricter in Europe and North America, the global market for commercial electric vehicles (EVs) is predicted to keep expanding. Research and Markets, an international market research firm, projects that the global commercial electric vehicle (EV) market will increase at a compound annual growth rate of 20.13 percent from its estimated $89.95 billion in 2018 to $563.13 billion in 2034.
