The translation links aren't working for some reason - so here is the article in full. Part 2 is at link at bottom of article:
What makes SK Innovation exciting as a cell factory partner
By Wilfried Eckl-Dorna
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REUTERS
Logo of SK Innovation at the headquarters in Seoul
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Electric Car Batteries: These six cell manufacturers share the world market
"We take the lead in future energy development" - with this somewhat cryptic slogan, the Korean company SK Innovation is promoting its battery business. Behind LG Chem and Samsung, SK Innovation is Korea's number three in the production of lithium-ion cells - the kind of battery that powers electric cars .
However, SK Innovation, a subsidiary of Korea's third largest conglomerate SK, did not enter cell production until 2006. Last year, SK Innovation achieved annual sales of 36 billion euros and a pre-tax profit of 511 million euros. But most of it comes from a business other than cell production: the extraction and processing of crude oil. The production of lithium-ion batteries is still a relatively new business for the Koreans - and probably not a big one. Because the latest balance sheets and quarterly statements do not show cell production as a separate division.
The business could, however, grow vigorously - with a German auto giant as a production partner: as manager magazin reports, Volkswagen is planning to build several battery cell gigafactories together with the Koreans .
So far, SK Innovation is considered a smaller player in the production of lithium-ion cells on the world market: In a ranking by Bloomberg New Energy Finance for the years 2016-2017, the Koreans did not make it into the top six. According to an analysis by Roland Berger SK Innovation should reach a world market share of 2 percent for lithium-ion cells by 2021. His Korean competitors are likely to be significantly larger in 2021: For LG Chem, the consultants forecast a world market share of 30 percent, for Samsung around 7 percent.
Korea's cell specialists offer the highest energy density
According to the consultant forecast, SK Innovation will also outperform the Chinese supplier CATL (24 percent market share until 2021), BYD (4 percent) and Lishen (3 percent) in three years. Roland Berger assigns a quarter of the world market in three years to the Japanese Tesla battery partner Panasonic.
Technologically, however, SK Innovation fits well with the claim of Wolfsburg. Korean manufacturers are considered to be the technological leaders in the production of lithium-ion cells. Compared to the Chinese competition, the Koreans deliver cells with higher energy density, analysts recently told the Financial Times. This allows for longer ranges with the same battery pack size. However, this lead should melt in the coming years - because of the sheer size of the Chinese attackers.
But the two largest manufacturers LG Chem and Samsung may well have less interest in joint works with the Wolfsburg - because they count the Volkswagen Group already to their cell customers: market leader LG Chem has already concluded large supply contracts with the VW Group, supplies but also the competition - such as BMW, Daimler, General Motors, Hyundai, Ford or Nissan. The same applies to Korea's number two in cell production, Samsung SDI.
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- Part 1: What makes SK Innovation exciting as a cell factory partner
- Part 2: SK has already pre-sampled to Europe
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