SK On signs W1.1tr LFP materials deal with Posco Future M

South Korean battery maker SK On is teaming up with Posco Future M to secure lithium iron phosphate cathode materials, as it builds a supply chain for the US energy storage system market that excludes China. Under the agreement signed Tuesday, Posco Future M will supply SK On with 1.1 trillion won ($815 million) worth of LFP cathode materials over three years from 2027 to 2029. SK On will use the materials to produce LFP batteries for ESS applications at its Georgia plant, the company said. The

Source: The Korea Herald