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POSCO FUTURE M gets approval for investment in construction of a 30,000-ton-capacity NCA cathode plant in Pohang
2023.03.21
  • POSCO FUTURE M’s Pohang cathode plant, which is currently under construction in phases.
- POSCO FUTURE M to build its first NCA cathode production plant in the wake of signing a 40 trillion KRW supply agreement with Samsung SDI.
- Global demand for NCA cathodes is increasing, and clients and product groups are also diversifying beyond NCM and NCMA cathodes.
- The company will begin construction in the first half of this year, with production and sale scheduled to begin in 2025. In 2023-24, the company plans to supply NCA cathodes produced in Gwangyang.

POSCO FUTURE M will build its first plant dedicated to producing only NCA cathodes.

On the 20th, POSCO FUTURE M announced that in order to respond to increasing global demand for high-nickel NCA* cathodes and to increase its market competitiveness by diversifying its client base and product groups beyond its current flagship products, NCM and NCMA* cathodes, it had submitted its plan to invest in the construction of an NCA cathode production plant in Pohang to POSCO Group's board of directors and subsequently obtained approval.

* NCM•NCM(A) cathodes: Cathodes made using lithium, nickel, cobalt, manganese, and (aluminum, in the case of NCM(A)) as raw materials.
* NCA cathodes: Cathodes made using lithium, nickel, cobalt and aluminum as raw materials. A material that can maximize battery efficiency due to the high levels of battery density and output it affords.

This new investment plan is the result of POSCO FUTURE M's 10-year, 40 trillion KRW high-nickel NCA cathode supply agreement with Samsung SDI signed this past January, marking the first time POSCO FUTURE M will build a production plant dedicated to NCA cathodes. The total investment is 392 billion KRW, and the plant will be built in the Yeongilman 4th General Industrial Complex in Pohang and will have an annual capacity of 30,000 tons, which is an amount that can be used for some 300,000 60 kWh electric vehicles.

POSCO FUTURE M will begin the construction of its Pohang NCA cathode plant in the first half of this year with the production and sale of NCA cathodes schedule to begin in 2025. And from 2023-24, it plans to supply NCA cathodes produced from some lines of its Gwangyang cathode plant. With a new, dedicated NCA cathode plant to be constructed, POSCO FUTURE M intends to continue to increase the volume of orders for NCA cathodes.

Prior to this investment, POSCO FUTURE M started the construction of a 30,000-ton-capacity NCMA cathode plant on the same site in April of last year with an aim to begin its operations in 2024. As such, in 2025, POSCO FUTURE M will be able to produce 60,000 tons of cathodes in Pohang alone.

Since starting its cathode business in 2012, POSCO FUTURE M has actively carried out research and development to achieve product diversification in line with the rapid growth of the electric vehicle market and increasingly segmented client needs, of which there are currently five product groups. As POSCO FUTURE M is also developing LFP (lithium ferro-phosphate) cathodes, which are used for low-end electric vehicles, its product groups are expected to be further diversified in the future depending on the market conditions.
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  • CEO : Yoo Byeong-og
  • Business Registration No. : 506-81-01452
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