The global electric vehicle market in 2019 is estimated to be about 2.22 million units. Among them, China accounts for about 1.05 million units, representing 47% of the global market, and China’s secondary batteries use LFP secondary batteries.
The most widely used LFP (Lithium Iron Phosphate) battery in China uses lithium iron phosphate. Cobalt, which has high energy density and good efficiency, is a scarce metal with limited reserves and high cost, so iron is used instead of cobalt as a material with the same performance level. However, it has the disadvantages of slow lithium-ion migration speed during charging and low electronic conductivity.
Meanwhile, Jenax Co., Ltd. plans to accelerate its entry into the global electric vehicle battery market by starting to supply revolutionary LFP secondary batteries to the Chinese electric vehicle market in collaboration with Myeongseong TNS.
Dr. Changhyun Kim, who is in charge of new business development at Jenax, stated, “When Jenax’s metal fiber and metal powder are used in LFP batteries for Chinese electric vehicles, the electrode structure changes from the existing two-dimensional structure to a three-dimensional stereoscopic structure, enabling high-speed charging and discharging due to excellent electronic conductivity and rapid ion diffusion speed.”
Dr. Kim added, “Myeongseong TNS has major customers among Chinese secondary battery manufacturers and separator manufacturers, so by sharing and applying Jenax’s patented technology, we aim to establish another foundation for rapid sales growth for both companies by supplying LFP batteries with excellent high-speed charging and discharging and stability through existing Chinese customers. Based on this, we plan to prepare for entry into the global electric vehicle battery market.”
Meanwhile, Jenax will grant Myeongseong TNS joint patent usage rights for secondary battery technology, and Myeongseong TNS will pay technology transfer fees accordingly.
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