SK on to supply batteries for electric vehicles to Volvo’s electric vehicle brand ‘Polestar’. Along with Hyundai Motor, Ford, Daimler AG, Volkswagen, and Xpeng, the sixth automotive manufacturer has been secured as another major customer.
According to industries on the 6th, SK on will supply NCM9 batteries to ‘Polestar 5’, a battery powered electric sedan type vehicle. This battery is called “Gubanban (Nine Half Half) Battery” because the ratio of nickel, cobalt, manganese (N, C, M) of cathode material is designed to be 9:½:½. By increasing the nickel content of the battery, energy density has improved, and space utilization has also increased. The mileage from a single charge is also improved. Gubanban batteries are characterized by increased price competitiveness by reducing cobalt content, which increases raw material prices.
“Polestar 5” will begin mass production in China from 2023, and specific specifications such as battery capacity have not yet been disclosed.
Although Polestar has been supplied with batteries from LG Energy Solutions and CATL in China, it is analyzed that it has recently increased its number of customers in the wake of strengthening cooperation with SK Group. SK invested $60 million in Polestar through China’s Geely Auto and New Mobility Fund in April and exchanged MOUs in June to strengthen cooperation in the electric vehicle sector.
SK on currently has 1.6TWh of batteries that have been ordered from electric vehicle companies and 220 trillion won in won. This quantity is considered the highest among global battery companies.
Hyung-jo Yoon, Head of SK on’s battery planning office, said in a third-quarter earnings announcement, “The order volume is about 1.6 TWh, 220 trillion won, including the effects of Ford Joint Venture (JV), adding that new orders from other global electric carmakers are underway.”
By Staff Reporter Tae-jun Park (gaius@etnews.com)