S. Korean battery makers' R&D investment up 12.5% in Jan.

건강 2023-12-02 06:28:33 245

South Korean battery makers' combined research and development investment this year has climbed over 12 percent on-year despite a slowdown in global demand for electrified vehicles, industry data showed Sunday.

According to latest quarterly reports of LG Energy Solution Ltd., Samsung SDI Co. and SK On Co., their combined R&D investment during the January-September period amounted to 1.78 trillion won ($1.38 billion), up 12.5 percent from 1.58 trillion won for the same period of last year.

Of the three companies, Samsung SDI was the biggest R&D investor, with cumulative expenses up 6.7 percent to 836.4 billion won during the first nine months of 2023.

LG Energy Solution spent 730 billion won on R&D this year, marking a 15.2 percent increase compared to the same period last year. SK On's spending jumped 29.6 percent on-year to 220.7 billion won.

Local battery companies are focusing on strengthening R&D efforts, with a particular emphasis on developing high-capacity, high-safety and long-lasting batteries, as well as enhancing the development of price-competitive lithium iron phosphate and cobalt-free batteries. (Yonhap)




Hotel chief fined for safety violation in Itaewon tragedy trial

Human rights commission urges Korea to abolish death penalty

YG's new girl group Babymonster to debut next month

[Today’s K

BTS gets 6th top honor at 2023 MAMA Awards

For esports fans, more activities await beyond LoL matches

'We overcame together': NCT127 returns on more solid ground

Taemin of SHINee to drop new EP 'Guilty' on Oct. 30