POSCO Chemical

Posco Chemical Co. signed a deal to supply anodes to Ultium Cells, a joint venture between LG Energy Solution and General Motors, for GM's EV platform Ultium starting in 2022.

Posco Chemical will invest 275.8 billion won ($248.71 million) to build a fourth cathode materials plant in Gwangyang, South Jeolla Province, raising total cathode production capacity to 100,000 tons per year. Ground was broken on February 23, 2021, with operation expected in 2023.

POSCO Chemical began the third-phase expansion of its cathode material plant in Gwangyang, South Korea. The expansion will add 30,000 tonnes of annual capacity, bringing total capacity to 70,000 tonnes, with an investment of 289.5 billion won. Production is targeted for 2022.

Posco Chemical has completed construction of a second-stage production line at its cathode material facility in Gwangyang, South Korea, tripling annual capacity of high-nickel cathode materials from 5,000 to 25,000 tons.

POSCO Chemical signed a medium- to long-term unit price and supply contract with LG Chem for cathode materials worth KRW 1.8533 trillion, representing 134% of POSCO Chemical's recent annual revenue.