Three Electric Vehicle Suppliers
Three Electric Vehicle Suppliers
The market shift to electric vehicles is creating challenges for traditional automotive suppliers. EVs have specialized components and require a new battery supply chain.
Localizing EV battery production can help mitigate upstream risks including human rights abuses and environmental harms. Several companies are investing in domestic battery production, including consortia and partnership models.
LG Energy Solutions
LG Energy Solutions (KRX: 373220), a split-off from LG Chem, is one of the world’s top lithium-ion battery suppliers. They offer a full range of batteries for electric vehicles, mobility, and IT applications. They have over 30 years of revolutionary battery technology and extensive research and development. This has earned them a global leadership position in the field of electric vehicles and a number of key patents.
In the US, LG has eight battery manufacturing plants currently operating or under construction. They recently secured a deal to supply batteries for Toyota’s EV production in the US, making it their largest single supply agreement outside of joint venture deals. The company also announced plans to increase its production capacity for pouch type battery cells in Holland, Michigan.
The new plant will triple the company’s annual EV battery cell production capacity in North America. It will use a proprietary technique for producing battery cells called “stack-and-fold”. This involves stacking the electric vehicle supplier cathode, anode, and separator into what’s known as a bi-cell. The battery will then be folded together to form a module.
LG’s commitment to sustainability is evident in its business practices, from sourcing raw materials to recycling end-of-life batteries. They are working on a closed-loop battery recycling system that will minimize the need for new mining and reduce environmental risks. In addition, they are partnering with carbon-conscious mining firm Snow Lake Lithium to develop a domestic supply chain for lithium.
SK On
SK On is helping to revolutionize mobility by designing high-capacity, lithium-ion batteries for electric vehicles. These batteries allow cars to charge faster and travel further on each charge. They are also safer than traditional gasoline-powered cars. As a result, EVs are becoming increasingly popular. However, EV production still relies on a global supply chain that is dominated by China.
The battery company’s EV cell plants are located near the major EV markets where they will be sold, which helps cut transport costs. In addition, the factories will be able to use domestic cobalt and nickel, which are not subject to the supply shortages that have hit other EV raw materials. The company has been steadily reinforcing its supply chains for critical battery materials. It recently signed a lithium hydroxide deal with Chile’s SQM, and it has multiple agreements with Australian lithium developers. These deals will help SK On meet the requirements of the U.S. IRA, which requires companies to source a certain percentage of critical metals from countries with free trade agreements with the United States.
SK On is partnering with Ford to operate an EV battery plant in Haywood County, Georgia. Its Blue Oval SK facility will produce batteries that power Ford’s upcoming electric F-150 pickup trucks. The project will create 5,800 jobs. The company will use the Technical College System of Georgia and the state’s Quick Start worker training program to staff its new factory.
DENSO
DENSO, an automotive supplier, has invested $1 billion to make its Maryville plant its primary North American production site for electrification and safety systems. This investment will create more than 1,000 jobs at the company’s main Tennessee facility, which currently employs more than 2100 people.
Besides electric vehicles, the company produces automatic identification products (barcode readers), industrial robots and programmable logic controllers. It also makes high-performance cabin filters, wiper blades, air conditioning parts and other auto components. In addition, DENSO provides advanced thermal management systems that control the temperature of electrical components. The company also produces motors and power electronics for hybrid vehicles and electric powertrains.
The company is committed to reducing carbon dioxide emissions and contributing to the development of a sustainable society. DENSO is working toward carbon neutrality by 2035 and achieving operational carbon neutrality by 2050. In its quest to achieve carbon neutrality, the company has developed a number of technologies that help reduce energy consumption and CO2 emissions in cars.
In addition to EVs, DENSO is committed to developing the electric aircraft industry as well. It has collaborated with Honeywell to develop electric propulsion systems for aircraft. These include aircraft engine and power electronics as well as high-power-density electric motors. The companies also plan to work together to develop batteries, electric motor controllers and cooling systems.
Bosch
Bosch is a leading manufacturer of electric vehicle components. chinese electric car supplier Its latest innovation is a battery-electric drive unit that can be customized to fit the specific needs of each automaker. Its flexible design allows customers to specify only a few parameters such as performance, torque, and installation space, and the e-axle will be optimized accordingly. This saves both time and money.
The company also offers charging services, which make it easy for drivers to recharge their vehicles and help them achieve climate targets. These solutions can be flexibly integrated into manufacturers’ infotainment systems, ensuring that they blend seamlessly with the vehicle’s look and feel. For example, Maserati has just introduced this service in its new GranTurismo Folgore.
As the EV market continues to grow, reliable charging infrastructure is essential for its success. Bosch’s EV charging stations are designed to charge batteries quickly and safely. They can even be used in remote locations with limited access to electricity. This makes them an ideal option for anyone who wants to switch to an EV.
The company is expanding its production facility in Charleston, South Carolina, to accommodate increased demand for EV motors. It will convert an existing building that previously housed diesel powertrain production. This move is part of a wider effort by the company to shift toward sustainable products.