South Korean media: "Charge for 5 minutes, travel 520 kilometers", the record is broken by China itself!
On May 16, the JoongAng Ilbo, a South Korean media outlet, published an article stating that the offensive of Chinese companies, which have taken control of the electric vehicle market through "battery rise", was extraordinary. The world's largest battery manufacturer, China's Contemporary Amperex Technology Co. Limited (CATL), unveiled a battery that can travel 520 kilometers after charging for 5 minutes. In March this year, the world's second-largest battery manufacturer and the world's largest electric vehicle manufacturer, China's BYD, announced a charging technology that allows driving 470 kilometers after charging for 5 minutes. Just over a month later, the record was broken by CATL. Analysis suggests that South Korean companies can only surpass Chinese competitors by accelerating the development speed of next-generation technologies such as all-solid-state batteries.
Recently, CATL unveiled its second-generation Shendong battery, which can travel 520 kilometers after charging for 5 minutes. Even at temperatures as low as -10°C, the Shendong battery can charge up to 80% in 15 minutes. Previously, China's electric vehicle company BYD launched a charging system with a voltage of 1000V and power output of 1000 kilowatts, allowing driving 470 kilometers after charging for 5 minutes.
In terms of speed alone, China's fast-charging technology far surpasses other companies. In South Korea, Hyundai Motor Group has 800V ultra-fast charging technology based on E-GMP. Hyundai's "Ioniq 5" and "Ioniq 6" can travel 388 kilometers after charging about 18 minutes using an ultra-fast charging station. Tesla's Supercharger has a maximum output power of 250 kilowatts, allowing driving approximately 320 kilometers after charging for 15 minutes. The fast-charging technology announced by CATL and BYD is more than three times faster than that of Hyundai and Tesla.
Kim Dong-myeong, president of LG Energy Solution, stated at a recent regular shareholders' meeting that "theoretically, 5-minute charging technology is feasible. However, to achieve rapid charging, more materials such as copper are required, which increases the cost of the battery, so how to handle costs is an important issue." Professor Lee Ho-geun from the Department of Future Automobiles at Daejeon University pointed out, "To balance efficiency and safety in high-power charging technology, improvements in power supply and infrastructure must first be made, and there are still many technical and institutional challenges to overcome."
Installing ultra-fast charging stations requires infrastructure, including new grid installations. Even when attempting to utilize existing EV charging stations, a large amount of electricity must be consumed in a short time, requiring additional costs such as energy storage devices. The situation in China is similar. Currently, China has built 3.2 million EV charging stations. BYD plans to build 4,000 ultra-fast charging stations in the future, but it will require significant investment.
Due to the temporary stagnation in electric vehicle demand, major South Korean companies are facing losses. SK Group's EV charging business, SK Eleclink, saw sales grow 34% year-over-year to 51.1 billion won last year, but operating losses increased from 14.5 billion won to 18.1 billion won during the same period. LG Electronics announced the closure of its EV charging business.
Meanwhile, South Korean battery companies are focusing on next-generation technologies. LG Energy Solution, SK On, Samsung SDI, and other South Korean companies are concentrating on developing next-generation technologies such as all-solid-state batteries. All-solid-state batteries are considered a "dream battery" because they have low fire or explosion risks, high energy density, and the ability to achieve high voltage and high output. The industry believes that the company that commercializes this technology first may become a game-changer.
Source: https://www.toutiao.com/article/1832242654941323/
Disclaimer: This article solely represents the views of the author.