Betting on new energy vehicles, South Korea's three major battery manufacturers have increased R&D investment by 12.5% ​​year-on-year this year

According to news from this site on November 26, thanks to the growth in sales of new energy vehicles, Korean battery companies have begun to strengthen research and development efforts, paying special attention to the development of high-capacity, high-safety and long-life batteries.

According to the latest quarterly financial reports of LG New Energy, Samsung SDI and SK On, their total R&D expenditures from January to September reached 1.78 trillion won (approximately 9.754 billion yuan), compared with last year The 1.58 trillion won in the same period increased by 12.5%

In addition, the three battery manufacturers plan to invest cumulatively in South Korea and overseas markets in 2023 to reach 16.75 trillion won (approximately 91.79 billion yuan) , more than doubled from 8.16 trillion won in the same period last year. This is also the first time they have exceeded the 16 trillion won mark

Among them, LG New Energy ranks first, with an investment of 7.65 trillion won; SK On The largest increase was seen, with investment amount reaching 6.6 trillion won; Samsung SDI ranked third, with investment amount increasing by 45.4%, most of which was used for the installation of domestic and international facilities in South Korea and the increase of production lines.

Among the three companies, Samsung SDI is the largest R&D investor. According to data, as of the first nine months of 2023, its cumulative expenditure has increased by 6.7%, reaching 836.4 billion won (approximately 4.583 billion yuan)

LG New Energy’s R&D expenditure this year is 730 billion won , equivalent to about 4 billion yuan, an increase of 15.2% over the same period last year. SK On’s expenditure increased by 29.6% year-on-year, reaching 220.7 billion won, approximately 1.209 billion yuan

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