LG Energy Solution has continued to win large orders for its 46-series cylindrical battery with a 46-millimeter diameter, raising market expectations. The 46-series is a cylindrical battery that delivers five times the output and more than six times the capacity compared with the existing 2170 battery, while simplifying processes to reduce production expense. Its standardized specifications make it advantageous for mass production and allow for stable assurance of quality above a certain level.
On the 30th, an LG Energy Solution official said, "In addition to key clients and traditional finished-vehicle corporations that recently released supply contracts, we are closely discussing additional projects with many clients," signaling additional 46-series orders.
In Nov. last year, LG Energy Solution secured a contract to supply 46-series batteries to Rivian through its Arizona unit in the United States. The total battery supply amounts to 67 gigawatt-hours (GWh).
LG Energy Solution also won orders in China, a market considered difficult to penetrate because Chinese battery makers such as CATL and BYD dominate it. In June, LG Energy Solution released that it would supply 46-series cylindrical batteries to Chery Automobile. LG Energy Solution plans to supply 8 GWh of the 46-series from Jan. next year for five years, enough to be installed in about 120,000 electric vehicles. The batteries will be installed in Chery Automobile's flagship models. The two companies also decided to actively proceed with discussions on additional projects to expand cooperation.
LG Energy Solution plans to respond to the market with products like the 46-series that further enhance product competitiveness to meet increasingly segmented and diversified client demands. The decision is based on the view that by diversifying clients and product portfolios on the back of overwhelming technology, any situation can be overcome.
LG Energy Solution said, "Only irreplaceable and differentiated customer value based on unrivaled technological prowess can overcome the chasm in the electric vehicle market and lay the foundation to dominate the coming supercycle."