L&F "Large-scale Cathode Material Supply Planned with European Electric Vehicle Companies"

Secondary battery cathode material manufacturer L&F announced on the 23rd that it is pursuing large-scale cathode material supply contracts with European electric vehicle manufacturers and battery cell companies.

An L&F representative stated, “We are promoting supply contracts for long-term mass production of products including our main product, high-nickel NCMA (Nickel·Cobalt·Manganese·Aluminum) cathode materials, as well as next-generation products." However, they added, "We cannot disclose specific contract targets, scale, or the companies involved due to confidentiality agreements with customers.”

It is reported that L&F has mostly completed negotiations on the detailed terms of long-term supply contracts with European clients. The company explained that the contracts involve tens of thousands of tons over the mid-to-long term and will be the largest in the company's history.

The representative introduced, "We are advancing cooperation with European customers beyond supply relationships, including in the used battery business, geopolitical risk management, meeting eco-friendly requirements, and ESG (Environmental, Social, and Governance) aspects."

L&F’s main products are NCMA polycrystalline and single-crystal cathode materials with a nickel content of over 90%. After completing the development of cathode materials with about 98% nickel content, the company aims to begin mass production and supply in 2024. They also mass-produce general NCM, LCO, and LMO cathode materials with lower nickel content than NCMA.

Meanwhile, in September, during the visit of the Turkish Minister of Industry and Technology to Korea, L&F held talks to attract investment in the battery industry in Turkey. Through this, L&F plans to diversify its customer base and market entry.

This content was produced with the assistance of AI translation services.