Cylindrical batteries are drawing attention from the battery industry following Tesla’s recent announcement that it would develop its own ‘4680’ cylindrical battery for its electric vehicles.
As interest in cylindrical batteries is on the rise, LG Energy Solution and Samsung SDI are starting to build or expanding production lines for cylindrical batteries. However, SK On is taking an independent way.
SK On, a battery subsidiary of SK Innovation, plans to focus on pouch-type batteries that have advantages in terms of safety and performance compared with cylindrical batteries.
SK On believes that the expansion of the cylindrical battery business is meaningful to companies that have been conducting R&D on cylindrical batteries. For companies that have not been in the cylindrical battery business, making investment in new facilities for cylindrical batteries can be risky. SK On is confident that it can increase its market competitiveness through concentration on pouch-type batteries.
SK On is the only Korean battery company to produce pouch-type batteries, which are superior to other types of batteries in terms of stability and performance. Reinforcing the advantages of pouch-type batteries can boost SK On’s competitiveness in the market, SK On thinks.
According to SNE Research, an energy market research company, SK On recorded an 8.2 percent market share in the battery market in April. Compared to a 5.3 percent share in April last year, its presence expanded by 2.9 percentage points. From January to April this year, its cumulative battery market share stood at 7 percent. It is the first time that SK On crossed the 7 percent mark.