POSCO BEGINS CONSTRUCTING SECOND CATHODE FACTORY – PULSE BY MAEIL BUSINESS NEWS KOREA
Wait for a while... POSCO BEGINS CONSTRUCTING SECOND CATHODE FACTORY – PULSE BY MAEIL BUSINESS NEWS KOREA POSCO Future M Co., a subsidiary of South Korean steelmaker POSCO Group specializing in battery materials, began the construction of its high-nickel cathode material facilities on the south coast of Korea. POSCO FUTURE M President Kim Jun-hyung and Samsung SDI Co. Vice President Kim Ik-hyeon attended a groundbreaking ceremony for the nickel-cobalt-aluminum (NCA) cathode material production facilities took place in Gwangyang, South Jeolla Province, on Thursday. With an investment of 683.4 billion won ($514.2 million), the Gwangyang facilities will have an annual production capacity of 52,500 tons of cathode materials, enough for 580,000 electric vehicles to be equipped with batteries. The cathode materials produced at the Gwangyang facilities will be supplied to Samsung under a 40 trillion won deal signed between POSCO Future M and Samsung SDI ...