# POSCO Future M begins construction of second cathode factory in Gwangyang

POSCO Future M held a groundbreaking ceremony for new NCA cathode material production facilities in Gwangyang, South Korea, with an investment of 683.4 billion won ($514.2 million). The facilities will have an annual capacity of 52,500 tons and are expected to be completed by April 2025.

- Type: Expansion
- Announced: 2024-02-23
- Where: Gwangyang, South Jeolla Province, South Korea
- Value: $514.2M
- Starts operating: Apr 2025
- Status: under construction
- Capacity: 52,500 tons per year of NCA cathode materials
- Products: high-nickel NCA cathode materials, single-crystal NCA cathode materials
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [POSCO Future M](https://endata.com/companies/69225.md)
- [Samsung SDI](https://endata.com/companies/16013.md) (customer)

## Sources

- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/all/10949231), 2024-02-23: "Considering that the secondary battery market is currently at a low point, I believe it is a timely and appropriate investment."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.