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Industry

LG Energy Solution posts 113.3 billion won Q2 operating profit, down 77 percent year on year

LG Energy Solution posted a second-quarter operating profit of 113.3 billion won, returning to the black on higher ESS shipments and increased cylindrical battery sales. Revenue rose 24.8 percent from a year earlier to 7.56 trillion won, while operating profit fell 77.0 percent. The company recorded 241.0 billion won in North America production tax credits reflected in the quarter. First-half operating loss totaled 94.5 billion won and net loss 1.27 trillion won.

Industry

Nissan starts developing all-solid-state battery cheaper than China\'s, using sulfur-based materials to cut costs

Nissan is moving to secure price competitiveness for all-solid-state batteries, a key next-generation EV technology, by using sulfur-based materials instead of costly nickel and cobalt. The company is launching a three-year project with UK battery firm Gelion, Nissan Technical Centre Europe and the University of Oxford to develop cost-effective solid-state lithium-sulfur batteries. The project totals about 3.4 million pounds, with Gelion receiving 2.4 million pounds in UK government support.

Mobility

Tesla range drops 52 km after switching to in-house 4680 battery cells in European Model Y

Tesla’s in-house 4680 battery cells in some European Model Y trims have been criticised for weaker performance than previous supplier batteries. Battery capacity fell versus the earlier LG Energy Solution pack, cutting WLTP range from 661 km to 609 km. Reports also cited slower fast-charging and lower energy density than Panasonic’s 2170 cells. L&F reported a sharp reduction in a cathode-material contract for 4680 batteries.