The expansion will increase the annual cathode output to 70,000 tons
◈ Construction begins on a new production line for NCMA products used in the next-generation EVs at the Gwangyang cathode plant
◈ Annual production capacity is set to grow by 30,000 tons, and a 70,000-ton production system will be running starting in 2022
◈ Will secure a future-growth engine by investing in next-generation materials and preparing for new orders
◈ Invested 217.7 billion won to build an artificial graphite anode plant
◈ POSCO CEO Choi Jeong-woo said, “The plant realizes Korea’s goal of becoming an industrial powerhouse, secures competitiveness of battery sector, and is an important breakthrough for the future growth of the group.”
◈ Domestic production of battery materials set to strengthen competitiveness in the battery industry
◈ Successful localization of key battery materials that extend battery life and enable faster charging
◈ POSCO Chemical to supply cathodes worth 1.8533 trillion won for three years starting in 2020
◈ The company is to accelerate entry into the EV battery materials market with high-nickel cathodes
◈ The close partnership will help secure a stable supply of essential materials and take the business to new heights