LG Chem’s cylindrical lithium-ion battery cells (LG Chem)
LG Energy Solution has the most patents for electric vehicle batteries that are officially registered with the patent offices of five major countries, industry data showed Monday.
According to the global patent information service WIPS ON, LG Energy Solution’s EV battery patents -- excluding utility patents -- registered with patent offices in Korea, Japan, China, Europe and the US amounted to 23,610, the largest among battery companies in the world.
LG Energy Solution was followed by Samsung SDI with 20,206, Panasonic of Japan with 17,200, China’s CATL with 2,221 and SK Innovation with 1,781.
According to IHS Markit, the size of the global EV battery business is expected to surge from 38.8 trillion won ($34.7 billion) last year to 182 trillion won in 2025, even bigger than the 169 trillion won of semiconductor market.
To take on the booming EV battery market, LG Chem invested 4 percent of its revenue or 821 billion won for battery research and development in the January-September period last year. In the same period, Samsung SDI invested 7.7 percent of its revenue or 619.7 billion won, while SK Innovation invested 0.74 percent or 197.3 billion won for the battery research and development.
By Kim Byung-wook (email@example.com)