Targeting Ningde Times? BYD’s Fudi Battery Forms Strategic Partnership with LG

BYD's Fudi Battery has formed a strategic partnership with LG, targeting Ningde Times

【Phoneauto News】According to Phoneauto, BYD Fudi Battery and South Korean company LG recently signed a strategic cooperation memorandum in Seoul, South Korea. According to the agreement, the two parties will engage in deep cooperation in areas such as home energy storage and robotics, collaborating to create products for the European and American markets.

Fudi Battery

In this cooperation, Fudi Battery brings its consumer battery heavyweight product LFP 4680, which is deeply integrated with LG’s global brand influence, to jointly create highly competitive products for the European and American markets. After the signing, the two parties will deeply communicate and deepen mutual understanding regarding the business development, technical/products, and other competitive advantages of both companies. BYD’s official announcement also indicates that with Fudi Battery’s integrated ability in the entire industry chain, both parties have expressed strong willingness to cooperate in aspects such as battery cells, modules, and system terminals. Phoneauto has learned that in the future, the two parties will engage in deep cooperation in areas such as home energy storage, robotics, and other smart home fields, creating world-class products and jointly promoting the sustainable development of the lithium battery industry.

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From the latest data on power battery installations, BYD’s global market share from January to July is 16%, while LG Energy’s market share reaches 14.2%. Some media analysts believe that if the two parties cooperate in the field of power batteries in the future, their overall market share can approach that of the current global leader, CATL. Of course, the cooperation between Fudi Battery and LG is limited to the cooperation level and cannot rise to the level of merger or acquisition. Therefore, the two battery suppliers will continue to develop independently. To challenge CATL’s position as the “king of lithium batteries,” other competitors still have a long way to go.

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