POSCO Future M to Supply 190,000 Tons of LFP Cathode Materials to Domestic Battery Maker

POSCO Future M has officially entered the market for lithium iron phosphate (LFP) cathode materials through a significant long-term supply agreement with a domestic battery producer. This move marks a strategic expansion for the company into a growing segment of the electric vehicle battery industry.

The agreement stipulates that POSCO Future M will supply more than 190,000 tons of LFP cathode materials to the unnamed battery manufacturer over a seven-year period, starting in 2025 and concluding in 2032. This substantial volume underscores the increasing demand for LFP batteries, which are known for their cost-effectiveness and safety.

While the customer's identity has been kept confidential due to business sensitivities, both parties are set to sign a formal contract in the third quarter of this year. The finalization of specific contract terms is pending further discussions, signaling a commitment to a robust partnership in the competitive battery materials sector.