Samsung SDI's booth at IAA Transportation 2024 in Hanover, Germany / Courtesy of Samsung SDI

Samsung SDI is showcasing its lineup of next-generation batteries optimized for electric commercial vehicles at IAA Transportation 2024 in Hanover, Germany, the company said, Wednesday. The lineup includes the latest lithium iron phosphate (LFP)-plus battery, all-solid-state battery and 46-phi cylindrical battery.

The event, first launched in 1897, kicked off Tuesday (local time) and will run through Sunday. Since 1991, the IAA event has been held every year, alternating each year between commercial vehicles in Hanover and consumer vehicles in Munich.

For this year's IAA event which is dedicated to the commercial vehicle sector, Samsung SDI introduces its LFP-plus battery product that is optimized for electric commercial vehicles. Samsung's LFP-plus battery, applied with a novel electrode technology, has 10 percent higher energy density than previous LFP batteries.

A commercial vehicle equipped with Samsung's LFP-plus battery can complete more than 1,400 round trips between Hanover and Frankfurt, thanks to its extended lifespan. The battery can be charged up to 80 percent in just 20 minutes as per the latest charging technology, which is essential for long-range driving.

In addition, Samsung SDI has applied its proprietary No Thermal Propagation technology to further enhance the safety of the LFP-plus battery.

Samsung SDI has completed the development of the LFP-plus battery, and is currently discussing mass-production plans with multiple customers.

The global market for commercial electric vehicles is viewed as having significant growth potential as environmental regulations on engine-based commercial vehicles become more stringent in Europe and North America. According to market researcher SNE Research, the market for commercial electric vehicles is forecast to grow from 47 gigawatt-hours in 2024 to 177 gigawatt-hours in 2030, growing by 25 percent annually.

"Samsung SDI has always been striving to lead the electric vehicle market based on differentiated technological prowess," Samsung SDI CEO Choi Yoon-ho said.

"The company will continue working closely with major customers around the world to provide top-quality and safety-ensured battery products."

At IAA 2024, visitors can also check out Samsung SDI's All Solid Battery (ASB) and 46-phi cylindrical battery. Samsung's ASB sporting its proprietary anode-less technology is under development for mass production by 2027, aiming to provide the industry's highest energy density. The company has sent out ASB samples to multiple customers to work on commercialization as planned. Samsung also plans to release its 46-phi cylindrical batteries for micro-mobility applications early next year, a year ahead of initial plans.

As an eco-friendly business, Samsung SDI exhibits its efforts for and commitment to the environmental, social and corporate governance principles for its partners and suppliers, such as the well-established closed-loop ecosystem, at the IAA booth.