POSCO Chemical Company said it had completed construction of the “world’s largest” cathode materials production facility, an event marked by a “completion ceremony” at the plant in Gwangyang.
The new factory has capacity for 90,000 tons per year, giving Posco Chemical a global production capacity of 105,000 tons of cathode materials per year, including 10,000 at Gumi in South Korea and 5,000 at Tongxiang in China.
Gwangyang would mainly produce high nickel NCMA (nickel, cobalt, manganese, aluminium) and NCM (nickel, cobalt, manganese) cathode materials for electric vehicle (EV) batteries, to supply automakers worldwide. High-nickel cathode material helps improve battery capacity according to the company. The factory would also produce cathode materials for energy storage systems.
Posco Chemical has set a goal of 340,000 tons of cathode materials production capacity per year worldwide by 2025, rising to 610,000 tons by 2030, with additional factories planned for South Korea, China and Canada.
