LG Energy Solution Ventures into Battery Safety Diagnostics Software Business

LG Energy Solution to Pioneer Battery Safety Diagnostics Software Business, Exploring Unlimited Business Extension Opportunities By Investing.com

, /PRNewswire/ -- LG Energy Solution announced today that it is venturing into the battery safety diagnostics software business. With interest in the safety of EVs at an all-time high, the company has decided to explore new business opportunities and provide the best customer value not only in battery manufacturing but also in BMS (Battery Management System) solutions, promoting the safe use of batteries. LG Energy Solution boasts unrivaled technological leadership in the battery safety diagnosis sector with its BMS design capabilities and empirical battery data gathered over 20 years. With over 8,000 BMS-related patents, the company has developed a safety diagnostics software based on empirical data obtained by disassembling and analyzing more than 130,000 battery cells and 1,000 battery modules. This reliable software has already been applied to more than 100,000 EVs, recording an impressive detection accuracy rate of more than 90%. Based on its leading technological prowess, LG Energy Solution's safety diagnostics software analyzes various battery defects including voltage drop during charging, battery tab failure, micro internal short circuit, abnormal degradation, abnormal discharge, deviation in specific cell capacity, and excessive lithium precipitation. Until now, most battery diagnostics software solutions were based on technologies developed by predicting virtual conditions, leading to low accuracy when applied in real environments. The growing interest in the safe use of EVs highlights the importance of developing a sophisticated battery condition management, prompting automakers to pay more attention to the BMS' ability to effectively measure and analyze battery information and detect various problems in advance. LG Energy Solution's safety diagnostics software, which will be mounted on the automotive BMS, will provide functions that preemptively diagnose various battery abnormalities. In fact, it is already being applied to vehicles from nine global automakers. Based on a safety diagnosis detection accuracy rate of over 90%, the software can detect and alert abnormal signs indicating potential future issues, such as thermal incidents, in advance, ensuring driver safety and peace of mind. In addition, LG Energy Solution's software is receiving attention for its compatibility with EVs equipped with batteries from other manufacturers. LG Energy Solution has decided to expand its safety diagnostics software business in collaboration with global automakers based on its proven safety diagnosis accuracy and accumulated technological prowess. "Although automakers are starting to shift their attention to safety diagnosis technology, it takes time and resources to develop and apply reliable software," said Hyuksung Chung, Vice President of the Business Development Group at LG Energy Solution. "LG Energy Solution has already developed diagnostics software with capabilities that overwhelm the competition. Backed by various battery patents and vast amounts of empirical data, this leading vehicle software can be applied to an automotive BMS today. This move aligns with our commitment to actively collaborate with our clients to ensure EV batteries are safe to use." In addition to a safety diagnosis function, LG Energy Solution has developed a technology that precisely diagnoses and predicts battery degradation. Through this technology, the software can predict a battery's future capacity and degradation based on data gathered on various information such as driving patterns. Based on LG Energy Solution's expertise in battery electrochemistry, the software has applied a battery physics model which includes various and complex degradation mechanisms such as lithium precipitation and degradation of cathode and anode. The software also diagnoses battery conditions more accurately by continuously upgrading its algorithms via AI computing technology. By continuously applying and supplementing battery cell information from various EVs to the algorithm, the error rate of battery degradation diagnosis has been reduced to the 1% range, top-level in the industry. In addition, LG Energy Solution is using cloud technology to analyze vast amounts of battery data in real time, with data from a total of 12,000 vehicles analyzed as of last year. Also, BMS software optimized for SDVs (Software Defined Vehicle) is being developed to target the future mobility era, where vehicles will become lifestyle platforms. By utilizing the vehicle's SoC (System-on-Chip) computing performance, computational capabilities can be enhanced and more sophisticated battery algorithms can be implemented. This will also unlock new battery services for customers by utilizing information obtained directly from the vehicle. LG Energy Solution has been working to strengthen its BMS capabilities in recent years through various collaborative efforts, including its cooperation with Qualcomm (NASDAQ:QCOM) Technologies to develop advanced BMS diagnostic solutions based on SoC, and an MOU with Analog Devices , Inc. (NASDAQ:ADI), a global semiconductor leader, for the supply of high-performance battery management integrated circuit and joint technology development. "We will continue to provide irreplaceable and differentiated customer value, not only in battery manufacturing but also in the field of BMS solutions to ensure the highest levels of safety and performance," said , CEO of LG Energy Solution.

LG Energy Solution to Pioneer Battery Safety Diagnostics Software Business, Exploring Unlimited Business Extension Opportunities

Safety diagnostics software detects battery defects with an accuracy rate of over 90%, leveraging company's technological leadership backed by BMS development capabilities and empirical battery data accumulated over more than 20 yearsMounted on the BMS for automobiles, the software detects abnormal signs that could lead to an issue, and is compatible with EVs equipped with batteries from other manufacturersPrecise diagnosis and prediction of battery degradation made possible with AI and cloud technologies SEOUL, South Korea, Aug. 20, 2024 /PRNewswire/ -- LG Energy Solution announced today that it is venturing into the battery safety diagnostics software business. With interest in the safety of EVs at an all-time high, the company has decided to explore new business opportunities and provide the best customer value not only in battery manufacturing but also in BMS (Battery Management System) solutions, promoting the safe use of batteries. Safety diagnostics software detects battery defects with an accuracy rate of over 90% LG Energy Solution boasts unrivaled technological leadership in the battery safety diagnosis sector with its BMS design capabilities and empirical battery data gathered over 20 years. With over 8,000 BMS-related patents, the company has developed a safety diagnostics software based on empirical data obtained by disassembling and analyzing more than 130,000 battery cells and 1,000 battery modules. This reliable software has already been applied to more than 100,000 EVs, recording an impressive detection accuracy rate of more than 90%. Based on its leading technological prowess, LG Energy Solution's safety diagnostics software analyzes various battery defects including voltage drop during charging, battery tab failure, micro internal short circuit, abnormal degradation, abnormal discharge, deviation in specific cell capacity, and excessive lithium precipitation. Until now, most battery diagnostics software solutions were based on technologies developed by predicting virtual conditions, leading to low accuracy when applied in real environments. Software preemptively detects abnormal signs that could lead to potential future issues The growing interest in the safe use of EVs highlights the importance of developing a sophisticated battery condition management, prompting automakers to pay more attention to the BMS' ability to effectively measure and analyze battery information and detect various problems in advance. LG Energy Solution's safety diagnostics software, which will be mounted on the automotive BMS, will provide functions that preemptively diagnose various battery abnormalities. In fact, it is already being applied to vehicles from nine global automakers. Based on a safety diagnosis detection accuracy rate of over 90%, the software can detect and alert abnormal signs indicating potential future issues, such as thermal incidents, in advance, ensuring driver safety and peace of mind. In addition, LG Energy Solution's software is receiving attention for its compatibility with EVs equipped with batteries from other manufacturers. LG Energy Solution has decided to expand its safety diagnostics software business in collaboration with global automakers based on its proven safety diagnosis accuracy and accumulated technological prowess. "Although automakers are starting to shift their attention to safety diagnosis technology, it takes time and resources to develop and apply reliable software," said Hyuksung Chung, Vice President of the Business Development Group at LG Energy Solution. "LG Energy Solution has already developed diagnostics software with capabilities that overwhelm the competition. Backed by various battery patents and vast amounts of empirical data, this leading vehicle software can be applied to an automotive BMS today. This move aligns with our commitment to actively collaborate with our clients to ensure EV batteries are safe to use." Precise diagnosis and degradation prediction with 1% range error rate In addition to a safety diagnosis function, LG Energy Solution has developed a technology that precisely diagnoses and predicts battery degradation. Through this technology, the software can predict a battery's future capacity and degradation based on data gathered on various information such as driving patterns. Based on LG Energy Solution's expertise in battery electrochemistry, the software has applied a battery physics model which includes various and complex degradation mechanisms such as lithium precipitation and degradation of cathode and anode. The software also diagnoses battery conditions more accurately by continuously upgrading its algorithms via AI computing technology. By continuously applying and supplementing battery cell information from various EVs to the algorithm, the error rate of battery degradation diagnosis has been reduced to the 1% range, top-level in the industry. In addition, LG Energy Solution is using cloud technology to analyze vast amounts of battery data in real time, with data from a total of 12,000 vehicles analyzed as of last year. Also, BMS software optimized for SDVs (Software Defined Vehicle) is being developed to target the future mobility era, where vehicles will become lifestyle platforms. By utilizing the vehicle's SoC (System-on-Chip) computing performance, computational capabilities can be enhanced and more sophisticated battery algorithms can be implemented. This will also unlock new battery services for customers by utilizing information obtained directly from the vehicle. LG Energy Solution has been working to strengthen its BMS capabilities in recent years through various collaborative efforts, including its cooperation with Qualcomm Technologies to develop advanced BMS diagnostic solutions based on SoC, and an MOU with Analog Devices, Inc. (ADI), a global semiconductor leader, for the supply of high-performance battery management integrated circuit and joint technology development. "We will continue to provide irreplaceable and differentiated customer value, not only in battery manufacturing but also in the field of BMS solutions to ensure the highest levels of safety and performance," said David Kim, CEO of LG Energy Solution. View original content:https://www.prnewswire.com/news-releases/lg-energy-solution-to-pioneer-battery-safety-diagnostics-software-business-exploring-unlimited-business-extension-opportunities-302227011.html SOURCE LG Energy Solution Market News and Data brought to you by Benzinga APIs

LG Energy Solution expands battery safety diagnosis business

LG Energy Solution's factory in Poland / Courtesy of LG Energy Solution By Lee Min-hyung LG Energy Solution will expand its software-driven battery safety diagnosis business with global carmakers, as demand keeps rising amid lingering safety concerns stemming from numerous fires caused by electric vehicles (EVs) in recent months, the company said, Wednesday. The battery manufacturer expressed confidence in its technological prowess regarding battery safety diagnosis software. The company has secured more than 8,000 patents in battery management systems (BMS) for which the software is considered crucial. The LG affiliate also underscored that more than 100,000 EVs here and abroad are equipped with the software, enabling the company to pile up massive datasets to develop more safety-proven BMS. The company seeks to win more orders from global carmakers, as concerns regarding EV fires escalate during the industry's early stages. The battery firm has so far supplied the software to a group of nine global carmakers. The software is capable of detecting any unusual signs from EV batteries in advance, thereby helping drivers to enjoy a safer experience from their EVs even on long-distance rides, according to LG Energy Solution. The software is also compatible with vehicles equipped with batteries from other manufacturers. The company highlighted the software's safety and accuracy. "Global carmakers are increasingly focusing on safety diagnosis technologies, but it takes enormous time and resources for any firms to develop a reliable level of relevant software," an official from the company said. "But LG Energy Solution already has enough datasets and patents, surpassing those from any other carmakers. Our software can be applied to BMS for EVs. We will actively collaborate with carmakers to ensure driver safety." LG Energy Solution also developed a technology to analyze the level of battery degradation. The company's BMS software predicts the future lifespan of batteries. It is continuously enhancing the software using artificial intelligence (AI), making it smarter and more capable of delivering highly accurate diagnostic results. The battery firm is also developing hardware and software optimized for software-defined vehicles (SDVs), as the concept will be central to the future of mobility. In March, LG Energy Solution teamed up with Qualcomm for the development of state-of-the-art BMS diagnosis solutions. Chips used for vehicles are also emerging as a major growth area amid the rise of SDVs and in-vehicle infotainment systems. "We will continue to offer differentiated value to customers, not only through battery manufacturing, but also with our BMS solutions so as to build an ecosystem for safer mobility," LG Energy Solution CEO Kim Dong-myung said.