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LFP commitment grows with Renault Group battery cell deal","lges-lfp-commitment-grows-with-renault-group-battery-cell-deal","article/lges-lfp-commitment-grows-with-renault-group-battery-cell-deal",{"_uid":557,"date":558,"tags":559,"editor":571,"content":581,"excerpt":720,"featured":51,"reporter":721,"_editable":725,"component":726,"seo_title":553,"categories":727,"visibility":742,"author_company":49,"data_vis_image":743,"featured_image":748,"seo_description":720,"author_full_name":49,"author_job_title":49,"formattedDate":752,"formattedArticleDate":753},"e7241057-6566-477d-955b-7a130011d4fa","2024-07-05 00:00",[560,563,566,568],{"slug":561,"name":562},"data-visualisation","Data Visualisation",{"slug":564,"name":565},"europe","Europe",{"slug":567,"name":521},"lfp",{"slug":569,"name":570},"lges","LGES",[572],{"slug":573,"name":574,"content":575},"matthew-bird","Matthew Bird",{"job_title":576,"image":577,"bio":579,"linkedin":580},"Senior Editor - Supply Chains & Data Visualisation",{"filename":578},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":582,"content":583},"doc",[584,591,596,601,616,623,628,633,638,651,664,677,682,692,701],{"type":585,"attrs":586,"content":587},"paragraph",{"textAlign":49},[588],{"text":589,"type":590},"LG Energy Solution (LGES) has demonstrated its growing focus on lithium iron phosphate (LFP) cells, signing a deal to supply Renault Group’s Ampere.","text",{"type":585,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":590},"The South Korean battery manufacturer is expanding its capacity to meet growing demand for LFP cells outside of China.",{"type":585,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":590},"“While LFP lacks in energy density compared to nickel based chemistries, it is desirable on many other fronts. It is generally the lowest cost, is safer (lower voltage, with a more predictable charge/discharge curve), it eliminates use of critical raw materials such as nickel and cobalt, and has a longer lifespan,” said Luke Gear, a Battery and EV Analyst at Benchmark.",{"type":585,"attrs":602,"content":603},{"textAlign":49},[604,606,614],{"text":605,"type":590},"Benchmark’s ",{"text":607,"type":590,"marks":608},"Lithium ion Battery Database",[609],{"type":610,"attrs":611},"link",{"href":612,"uuid":49,"anchor":49,"target":49,"linktype":613},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/","url",{"text":615,"type":590}," forecasts demand for the chemistry to almost triple by the end of the decade, from just under 600 GWh in 2024 to more than 1,500 GWh in 2030.",{"type":617,"attrs":618,"content":620},"heading",{"level":619,"textAlign":49},4,[621],{"text":622,"type":590},"What has happened?",{"type":617,"attrs":624,"content":625},{"level":619,"textAlign":49},[626],{"text":627,"type":590},"LGES and LFP plans",{"type":585,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":590},"LGES has historically focused on nickel-based cathode cells but has begun to build out LFP capacity in recent years. ",{"type":585,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":590},"The South Korean battery maker plans to produce LFP cells at its Michigan, US, plant from 2026. Though the company has paused construction of its LFP plans at its Arizona, US, site production is still expected to begin in 2029.",{"type":585,"attrs":639,"content":640},{"textAlign":49},[641,643,649],{"text":642,"type":590},"In February, LGES signed a ",{"text":644,"type":590,"marks":645},"long-term LFP supply agreement",[646],{"type":610,"attrs":647},{"href":648,"uuid":49,"anchor":49,"target":49,"linktype":613},"https://source.benchmarkminerals.com/article/lges-doubles-down-on-lfp-but-nickel-based-chemistries-central-to-long-term-plans",{"text":650,"type":590}," with Chinese cathode manufacturer  Changzhou Liyuan. Changzhou Liyuan will supply LGES with 160,000 tonnes of LFP products between 2024 and 2028.",{"type":585,"attrs":652,"content":653},{"textAlign":49},[654,656,662],{"text":655,"type":590},"Additionally, LG Chem, the parent company of LGES, has ",{"text":657,"type":590,"marks":658},"partnered with Huayou Group",[659],{"type":610,"attrs":660},{"href":661,"uuid":49,"anchor":49,"target":49,"linktype":613},"https://source.benchmarkminerals.com/article/chinas-huayou-and-cngr-hope-to-supply-europe-and-us-from-morocco-plants",{"text":663,"type":590}," to build an LFP cathode material plant with 50,000 tonnes per year nameplate capacity in Morocco, with production expected to begin in 2026.",{"type":585,"attrs":665,"content":666},{"textAlign":49},[667,669,675],{"text":668,"type":590},"However, the South Korean manufacturer remains focused on nickel-based cells. Following the deal with Ampere, 4% of LGES’ 680 GWh pipeline capacity to 2030 is dedicated to LFP cells, according to Benchmark’s ",{"text":670,"type":590,"marks":671},"Gigafactory Assessment",[672],{"type":610,"attrs":673},{"href":674,"uuid":49,"anchor":49,"target":49,"linktype":613},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/capacities/",{"text":676,"type":590},".",{"type":617,"attrs":678,"content":679},{"level":619,"textAlign":49},[680],{"text":681,"type":590},"LFP outside of China",{"type":585,"attrs":683,"content":684},{"textAlign":49},[685,687,691],{"text":686,"type":590},"Rising demand for lower cost EVs and ESS batteries has grown demand for LFP cells outside of China. Ex-China production is expected to be just under two GWh this year but it is expected to increase to more than 165 GWh in 2030, according to Benchmark’s ",{"text":607,"type":590,"marks":688},[689],{"type":610,"attrs":690},{"href":612,"uuid":49,"anchor":49,"target":49,"linktype":613},{"text":676,"type":590},{"type":585,"attrs":693,"content":694},{"textAlign":49},[695],{"type":696,"attrs":697},"image",{"id":49,"alt":698,"src":699,"title":49,"source":49,"copyright":49,"meta_data":700},"","https://a.storyblok.com/f/287943243085208/170fd104b1/bm-lfp-production-outside-of-china-is-rising-1.png",{},{"type":585,"attrs":702,"content":703},{"textAlign":49},[704,706,710,712,718],{"text":705,"type":590},"More than 99% of global LFP cell production is expected to come from China this year, according to Benchmark’s ",{"text":607,"type":590,"marks":707},[708],{"type":610,"attrs":709},{"href":612,"uuid":49,"anchor":49,"target":49,"linktype":613},{"text":711,"type":590},". By 2030, this figure falls to 92%, with North America and ",{"text":713,"type":590,"marks":714},"Europe ",[715],{"type":610,"attrs":716},{"href":717,"uuid":49,"anchor":49,"target":49,"linktype":613},"https://source.benchmarkminerals.com/article/lfp-begins-to-make-inroads-into-europes-lithium-ion-ecosystem",{"text":719,"type":590},"making up 4% and 3% respectively.","LG Energy Solution (LGES) has demonstrated its growing focus on lithium iron phosphate (LFP) cells, signing a deal to supply Renault Group’s Ampere. The South Korean battery manufacturer is expanding its capacity to meet growing demand for LFP cells outside of China. “While LFP lacks in energy density compared to nickel based chemistries, it is […]",[722],{"slug":573,"name":574,"content":723},{"job_title":576,"image":724,"bio":579,"linkedin":580},{"filename":578},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"e7241057-6566-477d-955b-7a130011d4fa\", \"id\": \"\"}-->","article",[728,731,734,736,739],{"slug":729,"name":730},"batteries","Batteries",{"slug":732,"name":733},"battery-technology","Battery Technology",{"slug":735,"name":299},"cathode",{"slug":737,"name":738},"critical-minerals","Critical Minerals",{"slug":740,"name":741},"phosphate","Phosphate","private",{"id":49,"alt":744,"name":698,"focus":698,"title":744,"source":698,"filename":745,"copyright":698,"fieldtype":746,"meta_data":747,"is_external_url":51},"Line chart showing Ex-China LFP production between 2024 and 2030, showing a mostly linear increase from under 2 GWh of production to more than 160 GWh","https://res.cloudinary.com/benchmarkminerals/images/f_auto,q_auto/v1720178375/www-production/LFP-production-outside-of-China-is-rising-no-Y-axis-1/LFP-production-outside-of-China-is-rising-no-Y-axis-1.png?_i=AA","asset",{"alt":744,"title":744,"source":698,"copyright":698},{"id":49,"alt":749,"name":698,"focus":698,"title":749,"source":698,"filename":750,"copyright":698,"fieldtype":746,"meta_data":751,"is_external_url":51},"Electric vehicle battery construction by robot arms","https://a.storyblok.com/f/287943243085208/e7210abe09/bm-lges-lfp-renault-group-deal.jpg",{"alt":749,"title":749,"source":698,"copyright":698},"Jul 05, 2024","5th July 2024",[],[],1792773899720]