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POSCO Future M Expands Single Crystal Anode Material Production to Pohang Plant for Electric Vehicle Batteries

South Korea
p 003670.KO Blue Chip 150
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POSCO Future M announced plans to supply its cutting-edge ‘single crystal anode material’ for electric vehicle (EV) batteries from both its Pohang and Gwangyang plants in South Korea. The high-performance NCMA (nickel, cobalt, manganese, aluminum) single crystal anode material, boasting an 86% nickel proportion, is set to be provided to Ultium Cells, a prominent U.S. battery joint venture between General Motors (GM) and LG Energy Solutions.

Having already commenced production at the Gwangyang plant in March, the Pohang plant is now geared to advance mass production by about two months, starting operations early last month. The single-crystal cathode material, characterized by a unique particle shape combining nickel, cobalt, manganese, and aluminum, yields batteries with heightened energy density. This, according to POSCO Future M, translates to extended lifespan and increased capacity compared to conventional polycrystalline anode batteries.

As EV demand surges, POSCO Future M aims to enhance production capabilities, projecting a rise in the Pohang cathode material plant’s capacity from the current 30,000 tons to an impressive 106,000 tons by 2026. The company emphasizes its commitment to expanding single crystal lines globally to maximize the driving range, stability, lifespan, and overall performance of electric vehicles.

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