CONNECT WITH US
EV & Mobility

EV & Mobility

Posco Future M to supply 720,000 tonnes of battery materials to LG Energy Solution

Electrive logo

Published on

Add as a preferred source on Google
Posco Future M to supply 720,000 tonnes of battery materials to LG Energy Solution

Posco Future M and LG Energy Solution are significantly expanding their collaboration on battery materials. Between 2027 and 2033, Posco Future M is set to supply a total of 720,000 tonnes of cathode and anode materials.

South Korean companies Posco Future M and LG Energy Solution (LGES) have signed a memorandum of understanding to expand their collaboration on battery materials. The agreement covers LFP cathode materials, synthetic graphite, ultra-high-nickel cathode materials, and future products such as sodium-ion battery materials and silicon anodes.

According to Posco Future M, the company will supply a total of 720,000 tonnes of cathode and anode materials to LGES over a seven-year period. The company has not specified how this quantity will be distributed among the individual material types. The partners intend to finalise a formal contract later this year.

The ramp-up for LFP is expected to be particularly rapid. Posco Future M plans to convert existing production lines for high-nickel cathode materials at its Pohang plant to LFP and begin supplying LGES from early 2027. The company states that some of the lines have already been retrofitted accordingly.

In the future, Posco Future M also intends to use a new process that utilises lithium sourced from the Argentine salt lakes of the Posco Group. This is expected to further reduce costs and secure supply more firmly within its own value chain.

The two companies also aim to strengthen their collaboration on anode materials. Synthetic graphite will be produced in Korea and Vietnam and supplied to LGES.


Source link
Related Topics:EV & Mobility

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.