Posco Future M Company, the specialty chemicals unit of South Korea’s Posco Group, has signed a preliminary agreement with local battery manufacturer LG Energy Solution Company (LGES) to supply 720,000 tons of battery materials over a period of seven years, according to local reports.
The two companies are scheduled to sign a final agreement by the end of the year, once all legal formalities are completed, with deliveries expected to start in 2027. Posco will expand the range of battery materials it supplies to LGES, to include lithium iron phosphate (LFP) cathodes and synthetic graphite anodes for the first time, as well as ultra-high-nickel cathodes. These materials will help LGES respond to growing demand for lower-cost electric vehicle (EV) batteries, growing demand for energy storage systems (ESS), and changing global trade regulations.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The two companies have also agreed to strengthen their collaboration on next-generation battery technologies, including sodium-ion batteries and silicon anodes.
The two companies have so far mainly focused their collaboration on nickel-cobalt-manganese cathode materials.
