According to Business Korea, LG Chem and General Motors (GM) have proposed a plan to begin mass production of new NCMA (nickel, cobalt, manganese and aluminum) batteries in 2022. In addition, they plan to build a billion-level NCMA plant to reduce battery prices to less than $ 100 / kWh.
It is reported that the two companies plan to use new NCMA batteries in new electric vehicles launched in 2022. NCMA batteries reduce the proportion of cobalt (a rare metal) to a single digit and add aluminum to maintain the same stability as existing products, while reducing unit costs and increasing production. In addition, increasing the nickel content without reducing the cobalt content can also increase the yield per unit area. Compared with the previous NCM battery, the battery cost can be greatly reduced.
General Motors of America introduced its next-generation electric vehicle platform at last week's EV Week event. At the same time, the company announced that it will reduce battery costs to less than $ 100 / kWh through a joint venture with LG Chem. Industry analysts said that mass-produced electric vehicle batteries cost about $ 150 / kWh, and batteries accounted for about 40% of the manufacturing cost of electric vehicles.
According to previous reports, LG Chem and U.S. General Motors signed an agreement on December 5, 2019, each investing 1 trillion won to establish a joint venture to seize the U.S. electric vehicle battery market and is expected to be based on the next generation of NCMA batteries. Exceed Tesla, the world's largest electric car maker.