LNF announced on the 10th that it signed a business agreement with SK On for the supply of LFP cathode materials.
Lee Byung-hee, COO of L&F, said, “We are closely examining future demand, starting with the recent business agreements with major domestic battery companies,” and “We will pursue mid- to long-term supply contracts by confirming specific quantities with our customers.”
Among domestic material companies, LNF is preparing the LFP cathode material business the fastest. It is currently shipping products from the pilot line and delivering them to customers, and is conducting final product testing. In addition, it announced that it held a board meeting on the 10th and established a new corporation for a full-scale new LFP cathode material business and acquired shares in the new corporation. In addition, it announced that it held a board meeting on the 10th and established a new corporation for a full-scale new LFP cathode material business and acquired shares in the new corporation.
The reason why the LFP cathode material business can be promoted so quickly even amidst the unstable international situation, such as the slowdown in demand in the electric vehicle market and the US-China conflict, is because the demand for LFP cathode materials for low- and mid-priced EVs and energy storage systems (ESS) is rapidly increasing.
An L&F official said, “With the passage of the One Big Beautiful Bill (OBBB) in the U.S., some uncertainties have been resolved, and battery cell companies are moving quickly due to the increase in demand for ESS due to the surge in AI data centers and increase in eco-friendly energy facilities such as wind power.” He added, “This business agreement can be seen as a move by battery companies to secure our LFP cathode material production line in advance in order to preemptively respond to the rapidly increasing demand for LFP cathode materials.”
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