POSCO Future M stated on Dec. 15 that its board of administrators authorized an agenda merchandise to construct a plant devoted to lithium iron phosphate (LFP) cathode supplies on the Yeongil Bay Fourth Common Industrial Complicated in Pohang. Building is scheduled to start subsequent 12 months, with mass manufacturing set to begin within the second half of 2027. All LFP cathode supplies to be produced on the plant will probably be provided completely for vitality storage techniques (ESS).
POSCO Future M plans to maneuver ahead with development of the LFP cathode materials plant via further funding in CNP New Materials Expertise, a three way partnership established with China’s CNGR in 2023. Beginning with this funding, the corporate goals to develop its manufacturing capability to as much as 50,000 tons. Beforehand, POSCO Future M signed a memorandum of understanding with CNGR and its Korean subsidiary Fino in August to pursue an ESS-focused LFP cathode materials enterprise and has since been reviewing the undertaking.
As demand for ESS-use LFP batteries has surged within the North American market, main battery makers are accelerating efforts to transform current ternary battery manufacturing traces to LFP battery traces. In response, POSCO Future M plans to additional diversify its cathode materials product lineup and strengthen its order competitiveness within the world market by approving this LFP plant funding, along with its present concentrate on producing ternary cathode supplies akin to NCM and NCA. To allow early entry into the LFP market in step with market and buyer demand, the corporate additionally plans to transform a part of the present NCM cathode materials manufacturing traces at its Pohang plant into LFP cathode materials traces and start provide by the top of 2026.
In the meantime, POSCO Future M is actively pursuing product diversification in step with the fast development and segmentation of the electrical automobile and ESS markets. Within the first half of this 12 months, as world automakers akin to Common Motors and Ford introduced plans to undertake lithium manganese-rich (LMR) batteries, POSCO Future M accomplished pilot growth of LMR cathode supplies along with the POSCO Holdings N.EX.T Hub, which oversees analysis and growth throughout the POSCO Group. Within the second half of the 12 months, the corporate additionally accomplished pilot growth of ultra-high-nickel cathode supplies for premium electrical autos and high-voltage mid-nickel cathode supplies.
