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THE INVESTOR
June 02, 2020
Big Reunion

Deals

SK Innovation clinches EV battery deal from BAIC

  • PUBLISHED :April 20, 2020 - 16:30
  • UPDATED :April 20, 2020 - 16:30
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South Korean battery maker SK Innovation will supply electric vehicle batteries to the Beijing Automotive Industry Holding Co., or BAIC, after winning out against state-sponsored Chinese competitors.

According to industry sources on April 20, the Chinese automaker’s premium electric SUV model Arcfox Mark 5 will be equipped with NCM811 batteries produced at SK Innovation’s battery cell plant in Changzhou, Jiangsu province.

SK Innovation researchers hold up battery cells. (SK Innovation)



“Technology is the only area where SK Innovation can differentiate its batteries from those of Chinese competitors and overcome the high entry barrier of China’s EV market. SK Innovation’s NCM811 batteries, which can guarantee a longer driving range from 500 to 700 kilometers, must have been attractive to BAIC,” an industry source said.

The NCM811 battery’s cathode is 80 percent nickel, 10 percent cobalt and 10 percent manganese. Batteries with a higher ratio of nickel to cobalt and manganese can provide a higher energy concentration level, giving EVs a longer driving range. SK Innovation has also developed a nickel-cobalt-manganese battery that contains 90 percent nickel and is currently working to commercialize it.

The Mark 5 EV is set to be released in the second half of the year with a driving range of 400-500 kilometers.

By Kim Byung-wook (kbw@heraldcorp.com)

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