Latest news with #PoscoFutureM
Yahoo
2 days ago
- Automotive
- Yahoo
Posco to supply battery anodes to Japanese automaker
Posco Future M Company, the battery materials subsidiary of South Korean steel and chemicals group Posco Holdings Inc, announced that it has signed a battery materials supply deal with a Japanese automaker. In the last two years, Posco has made significant efforts to position itself as a key global supplier of automotive materials, including battery materials, helping global automakers reduce their dependence on Chinese supply chains. Stricter US import regulations under the Trump administration, which aim to cut the use of Chinese components and materials, have accelerated this process as automakers look for alternative suppliers. Posco Future M confirmed that it has signed an agreement tosupply natural graphite-based anode materials to a Japanese automaker from its Sejong plant in South Korea, for use in EV batteries to be produced in Japan. The name of the client and the value of the deal were not disclosed, due to a mutual confidentiality agreement signed by the two companies. Posco Future M, South Korea's only mass producer of battery anode materials, said that the deal with a major Japanese automaker strengthens its competitive position in global markets. The company said in a statement: "We have developed a wide range of natural and artificial graphite anode products tailored to customer needs and are also advancing the commercialization of silicon anodes. By expanding our differentiated product portfolio, enhancing manufacturing capabilities and strengthening our supply chain, we will continue to expand our global customer base.' "Posco to supply battery anodes to Japanese automaker" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
2 days ago
- Automotive
- Korea Herald
Posco Future M inks graphite anode deal with major Japanese battery maker
Posco Future M, the battery manufacturer of Korean steel giant Posco Group, signed a supply agreement with a major Japanese battery manufacturer on Friday, accelerating its growth into the global market. Under the agreement, Posco Future M will supply natural graphite anode materials produced at its Sejong plant for use in electric vehicle batteries manufactured in Japan. While the specific contract details — including the buyer, volume and duration — were not disclosed, the company described the deal as a significant step in diversifying its global clientele. The battery giant offers a broad product lineup of natural and synthetic graphite anodes tailored to customer needs, and is also advancing the commercialization of silicon-based anode materials. The company continues to improve manufacturing productivity and cost competitiveness through process innovation. Posco Future M's competitiveness lies in its integrated supply chain, developed alongside its parent company, Posco Group. The company sources graphite raw materials from regions outside China and produces intermediate materials domestically, enhancing supply security. For synthetic graphite, it uses coke byproducts from Posco Group's steelmaking processes to produce graphite raw material in Korea. Posco Future M plans to continue expanding its customer base by leveraging its differentiated technology, advanced manufacturing capabilities and secure supply chain.
Korea Herald
10-06-2025
- Automotive
- Korea Herald
Posco Future M advances supply chain independence with new precursor plant
Facility aims to meet rising demand for China-independent battery materials amid shifting US trade policies Korean battery material manufacturer Posco Future M officially opened its new precursor plant Tuesday in Gwangyang, South Jeolla Province, marking a key step in its efforts to build a self-sufficient supply chain. 'The completion of this precursor plant, following Posco Group's establishment of its own nickel supply chain, marks the realization of a fully self-sufficient system, from raw materials to intermediate products and the finished cathode material,' said Eom Gi-chen, CEO of Posco Future M, during the opening ceremony. 'In today's rapidly changing global supply chain landscape, the Gwangyang precursor plant will enhance the competitiveness and growth of Korea's battery industry.' The 22,400 square meter facility has an annual production capacity of 45,000 metric tons of precursor — a chemically synthesized mixture of metals used in cathode materials — enough to support battery production for 500,000 electric vehicles, the company said. The facility, which has been ramping up operations since May, was largely in operation during a media tour held the same day. The plant was filled with around 50 large metal tanks spread across the factory floor. The precursor production process involves six main steps: dissolving metals in purified water, inducing chemical reactions with catalysts to form precursor crystals, then washing, dehydrating, drying and packaging the final product. 'The reaction process is the core of precursor manufacturing, as it determines the material's density and elemental ratio, both of which are tailored to meet customer specifications,' a company official said, noting Posco Future M's flexibility in adjusting compositions to client needs. Currently, the company uses nickel, cobalt and manganese to produce precursors for NCM cathodes used in electric vehicle batteries, according to the order by Ultium Cells, a US-based 50:50 joint venture between LG Energy Solution and General Motors. 'All precursors produced at this facility are currently supplied to Ultium Cells,' the official added. The company said the timely launch was driven by growing demand from customers for China-independent supply chains, while many other battery projects have been delayed amid sluggish EV demand. The US Inflation Reduction Act disqualifies EV batteries containing materials from 'foreign entities of concern,' including China, from tax credit eligibility. This policy shift has prompted automakers to reduce reliance on Chinese suppliers, who currently dominate 90 percent of the global precursor market. To meet these evolving demands, Posco Future M said it has also secured alternative sources for raw materials used in precursor production. 'We understand the risks automakers face when their supply chains are overly concentrated in China. Regardless of cost considerations, that's where the competitiveness of our plant comes in,' said Lee So-young, head of the business strategy planning group at Posco Future M. 'As US policies continue to evolve, we're working to establish a supply chain that's less exposed to such changes, including sourcing raw materials independently of Chinese suppliers.' The plant's 10 production lines are controlled by about 10 staff members via monitors that provide a real-time overview of the process. With a high degree of automation, the company aims to enhance quality control of its cathod materials — a factor it says was more difficult to achieve when using externally sourced precursors. 'When customers request specific features, many of them cannot be achieved simply by processing third-party precursors,' Lee added. 'We believe our ability to meet those demands in both quality and cost also gives us a key competitive edge.'
Korea Herald
06-06-2025
- Business
- Korea Herald
Posco Future M invests W436b for new anode material plant in Saemangeum
South Korean battery materials producer Posco Future M is set to build a spherical graphite manufacturing facility in Saemangeum, North Jeolla Province, as part of efforts to reduce dependence on China for anode materials. The company signed an agreement on Thursday with the Saemangeum Development and Investment Agency (SDIA), North Jeolla Province, Gunsan City and the Korea Rural Community Corporation to invest 436.1 billion won ($321.3 million) in the new facility, according to North Jeolla Province. The signing ceremony, held in Gunsan, North Jeolla Province, was attended by Posco Future M CEO Eom Gi-chen, North Jeolla Gov. Kim Kwan-young, SDIA Administrator Kim Kyung-ahn, Gunsan Mayor Kang Im-jun and other local officials. 'With this new facility, we aim to respond to increasingly protectionist trends in global supply chains and contribute to the competitiveness and growth of Korea's battery industry,' Eom said. Spherical graphite is refined natural graphite that reaches about 95 percent purity, then is further upgraded to over 99.9 percent for use in anode production. Upon completion in 2027, the plant will have an annual production capacity of 37,000 tons of spherical graphite, according to the company. Of the total investment, 277.3 billion won will be funded through a rights offering scheduled for July. The investment follows Posco Future M's board decision in April to localize the production of key battery materials. With China currently accounting for over 99 percent of the global supply of spherical graphite, Posco Future M is seeking to lessen its dependence on Chinese sources amid growing geopolitical risks and potential US restrictions on Chinese battery materials for electric vehicles.
Korea Herald
27-05-2025
- Automotive
- Korea Herald
Posco Future M advances LMR cathodes to rival China's LFP dominance
Posco Future M announced Tuesday that it has completed the development of lithium manganese-rich (LMR) cathode materials for electric vehicle batteries, which it hopes will be a competitive alternative to Chinese products. The company recently received approval from its primary clients — mainly battery manufacturers — to prepare for mass production, following inspections of equipment operation, safety, and environmental standards in the LMR manufacturing process. It aims to secure mass production capabilities within this year. While the exact production location remains undisclosed, Posco Future M emphasized that it will utilize its existing nickel, cobalt and manganese (NCM) cathode production lines to ensure a timely supply for clients. The company currently operates three manufacturing bases in Gwangyang, South Jeolla Province, Pohang, North Gyeongsang Province, and Sejong. In collaboration with the research institute of its parent company, Posco Holdings, Posco Future M has steadily improved the energy density, charge-discharge performance, and stability of LMR cathodes, achieving successful pilot production last year. LMR cathodes are considered a potential game-changer for batteries used in entry-level and standard EVs. They are attracting attention from global automakers seeking alternatives to China's lithium iron phosphate batteries as carmakers face growing pressure to decouple their supply chains from China in order to meet US regulatory requirements. Posco Future M highlighted that LMR batteries offer competitive pricing compared to LFP batteries, while delivering 33 percent higher energy density. This cost efficiency is made possible by significantly reducing the use of expensive materials like cobalt and nickel, and instead increasing the proportion of more affordable manganese. The company also plans to expand its LMR product portfolio by developing next-generation cathode materials with even higher energy capacity, with the goal of serving not only entry-level EVs but also premium and large-size EV markets. 'Although LMR cathode materials have long been recognized for their potential, commercialization was hindered by challenges related to lifespan,' said Hong Hyung-jun, director of the Posco Future M Technology Research Center. 'However, significant R&D progress has been made. We are now ready to launch products that combine affordability with high energy density, working closely with our trusted partners.' Meanwhile, General Motors has announced plans to launch EVs equipped with LMR batteries by 2028. Ford Motor Company is also targeting LMR battery commercialization before 2030 and is currently conducting pilot production of advanced LMR cells.
