POSCO Future M Co. was awarded a 30.3 trillion won (US$22.6 billion) order by LG Energy Solution Ltd. for a seven-year supply of high-nickel cathodes.
The products consist of nickel, cobalt, and aluminum (NSA) cathodes and nickel, cobalt, manganese, and aluminum (NCMA) cathodes.
The deal comes three months after POSCO Future M inked a 40 trillion-won contract with Samsung SD to manufacture cathodes.
POSCO Future M is diversifying its product portfolio to meet growing demand and boost its production capacity to 610,000 tons in 2030.
.POSCO Future M’s domestic and overseas cathode factories have a combined annual capacity of 105,000 tons.
