POSCO Future M signs a 1.07 trillion won contract to supply cathode materials to SK On
According to Maeil Business Newspaper, POSCO Future M has signed a contract worth 1.07 trillion won to supply LFP cathode materials to SK On from 2024 through 2029. This agreement expands the partnership beyond existing anode material cooperation and positions POSCO Future M to supply both cathode and anode materials to all three major domestic battery manufacturers.
Key facts
- 01POSCO Future M will supply LFP cathode materials to SK On, a subsidiary of SK Innovation, under a contract valued at 1.07 trillion won.
- 02The supply period runs from 2024 to 2029, marking an expansion of the partnership to include cathode materials in addition to previously supplied anode materials.
- 03The deal enables POSCO Future M to supply both cathode and anode materials to all three major domestic battery companies, strengthening the non-China supply chain for LFP materials.
- 04LFP batteries are noted for their price competitiveness and long lifespan, driving increased demand for energy storage systems.
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- 포스코퓨처엠, SK온에 1조 양극재 공급 · 매일경제