AI Data Center Power Shortage! Korean ESS Changes the Market / Why Ternary Batteries Are Rising Again (Secondary Batteries) Director Lim Seong-gyun

Summary

Director Lim Seong-gyun of Battery Dive discusses how US anti-China policies and AI data center power needs are opening the ESS market for Korean battery firms. He explains how battery recycling mandates could shift cost advantages from LFP to ternary batteries, and why NVIDIA's 800V data center architecture creates new demand for NCM cells. He also evaluates the performance and outlook of specific Korean cathode, precursor, and other material companies.

• Korean battery makers are pivoting US factories from EV to ESS due to AI data center electricity demand and strong non-China regulatory advantages.
• US EV sales are recovering in Q2 after a steep drop, with Tesla, GM, and Kia showing early signs of stabilization.
• State-level recycling mandates in the US increase LFP's total life cycle cost, making ternary batteries more competitive relative to LFP.
• NVIDIA's 800V DC power system inside AI data centers requires fast-charge/discharge ternary batteries, creating a new demand vertical for Korean suppliers.
• L&F could become the sole non-Chinese supplier of LFP cathode if its development succeeds, a unique regulatory-driven opportunity.
• Tesla's Juniper model is selling well in multiple regions, boosting sales and margins for cathode makers EcoPro BM and L&F.
• Precursor material makers like Kopro Material are showing improving revenue and profitability, while Korean back-end material firms (separator, foil, electrolyte) remain weak.