[Alpha Biz=(Chicago) Reporter Kim Jisun] POSCO Chemical will expand its production capacity of artificial graphite cathode materials. It has secured sufficient demand by signing a large-scale supply contract with Ultium cells, a battery joint venture between General Motors (GM) and LG Energy Solutions.
POSCO Chemical started construction of the second phase of artificial graphite cathode material with an annual operation of 10,000 tons at the Blue Valley National Industrial Complex in Pohang, Gyeongbuk on the 31st of last month.
POSCO Chemical completed the first phase of the artificial graphite cathode material with an operation of 8,000 tons in Pohang in December 2021 and succeeded in localization for the first time in Korea.
The second phase plant is scheduled to be completed in the second half of next year, and POSCO Chemical will have a total production system of 18,000 tons. This is the amount that can be supplied to about 470,000 electric vehicles based on 60kWh.
POSCO Chemical also secured sufficient demand prior to the construction of the second phase plant. In December last year, it signed a contract with Ultimate cells to supply cathode materials worth 939.3 billion won for six years from this year to 2028.
In particular, POSCO Chemical makes artificial graphite with bed cokes made by processing coltar generated as a by-product in POSCO's steel process.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
