POSCO Future M said Friday that it has expanded its cooperation scope with LG Energy Solution to include LFP (lithium iron phosphate) cathode materials, artificial graphite anode materials, and others.
The two companies signed a "Future Cooperation MOU" on the same day, agreeing to strengthen their cooperative framework to jointly respond to the rapidly changing EV (electric vehicle) and ESS (energy storage system) markets as well as the global trade environment.
POSCO Future M will supply a total of 720,000 tons of cathode and anode materials, including LFP and ternary cathode materials and artificial graphite anode materials, to LG Energy Solution from 2027 through 2033. The two companies plan to sign a definitive contract within the year.
First, the company will swiftly advance the conversion of its high-nickel ternary cathode material production line at the Pohang cathode material plant into an LFP cathode material production line. It plans to begin full-scale supply of LFP cathode materials to LG Energy Solution from early next year.
Going forward, the company aims to develop a new process utilizing the POSCO Group's salt lake lithium in Argentina to enhance cost competitiveness and improve quality, thereby supplying next-generation LFP cathode materials.
For the ternary NCM (nickel cobalt manganese) cathode materials previously supplied to LG Energy Solution, the two companies agreed to pursue measures to further boost cost competitiveness by expanding the use of recovered metals extracted from spent batteries in the medium to long term.
The agreement also includes cooperation on the supply and technology development of next-generation products such as sodium-ion batteries and silicon anode materials.
First, POSCO Future M will produce artificial graphite anode materials, which are advantageous for improving fast-charging performance and battery lifespan and have seen steadily growing demand, in Korea and Vietnam to supply LG Energy Solution.
The two companies also agreed to cooperate on technology development and supply of future battery materials, including materials for sodium-ion batteries (SIB), ultra high-nickel cathode materials, and silicon anode materials.
In addition, they committed to proactively responding to changes in the trade environment by seeking joint response measures in cases where variables related to global supply chains arise or are anticipated, such as the introduction of the U.S. PFE (Prohibited Foreign Entity) requirements and the announcement of the European IAA (Industrial Acceleration Act).
in INDUSTRY
