POSCO Chemical will supply LG Chem anode materials for electric vehicle (EV) to LG Chem over the next three years.
The supply contract is worth up to KRW2 trillion (USD1.7 billion), with POSCO supplying roughly 125,000 tons of anode to LG Chem.
The anode materials supplied will go into EV batteries able to run for 400 kilometers (248.5 miles) on a single charge. If POSCO increases production it would be distributed to factories in China.
Recently, LG Chem had set up a joint venture (JV) with US General Motors and is awaiting a battery JV with Korea’s Hyundai Motor.
