LG Chem has made a big step forward in its scheme to rise to the No. 1 leader in the global electric vehicle battery market.
The chemical unit of LG Business Group launched a project to build an EV battery plant in Nanjing, Jiangsu Province, China, on Oct. 30.
Participating in the EV battery plant’s ground breaking ceremony were President Kwon Young-soo of Energy Solution Company of LG Chem; Miao Rui Lin, the Mayor of Nanjing; and Luo Qun, the vice mayor.
The project calls for the construction of a three-story, 25,000-square-meter plant, bigger than three soccer stadiums. Once completed, the plant will have the capability to produce batteries for more than 100,000 EVs. The integrated plant will supply everything from cells to modules and packs, so that all demand from customers can be met.
LG Chem plans to complete the construction of the plant by end of next year and mass produce EV batteries starting in 2016 when the Chinese EV market is forecast to made strides.
“The Chinese EV market is predicted to surge as much as twice yearly starting 2016, and the market will establish itself as one of the world’s largest EV markets in 2020,” said President Kwon said in his congratulatory speech at the ceremony.
He went on to say that the upcoming EV battery plant will make LG Chem and Nanjing the center of the global EV market.
LG Chem’s selection of Nanjing as the site of the EV battery plant was owed to geographical advantages and the Chinese municipal government’s full support. For Chinese automobile manufacturers, Nanjing is at the center of their considerations. Nanjing is also a city in which LG Chem’s small-sized battery plant is located and LG Group’s other subsidiaries, including LG Electronics and LG Display, have their presence there. LG Chem has already secured EV battery demand from Shanghai Automotive Industry Corp., FAW Group and Qoros. The Korean company has also received demand for tens of thousands of EV units from foreign automakers, which have made inroads into the Chinese market.
LG Chem to supply batteries to Germany’s biggest ESS project
LG Chem has been selected as the supplier to deliver 10.8MWh lithium-ion batteries for Energiequelle’s energy storage project in Feldheim, the largest in Germany. The batteries that LG Chem will be installing into Energiequelle’s microgrid are capable of providing electricity to about 2,000 households a day within the local region of Feldheim.
The microgrid is a next-generation electrical grid that is mainly powered by solar, wind and other renewable energy sources. These power sources often have an irregular frequency depending on weather conditions. The main application of LG Chem’s batteries is to stabilize and regulate power frequencies to save energy onto the BESS and deliver it to the microgrid whenever it is in need. LG Chem plans to complete the installation of batteries by the first quarter of 2015.
Feldheim, with a population of 130 people, is located in the state of Brandenburg, about 80km southwest of Berlin. Feldheim represents an extreme showcase of a zero-emission future starting from Germany to spread out worldwide, as it is an energy self-sufficient community free of fossil fuels, something its inhabitants are proud of.
Feldheim consumes only 1 percent of the electricity produced annually by its wind turbines, biomass and solar farm, selling the remainder on the market; a pioneering example of economically beneficial renewable use.
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