L&F Plus Completes Daegu LFP Cathode Material Plant... Mass Production to Begin in Q3
KRW 338.2 Billion Invested in Daegu National Industrial Complex
Annual Production Capacity to Reach 60,000 Tons by 2027
L&F has completed the construction of a dedicated LFP (lithium iron phosphate) cathode material plant through its subsidiary, L&F Plus, and is now accelerating efforts to expand its non-Chinese supply chain.
On May 18, L&F announced that its wholly owned subsidiary, L&F Plus, has completed construction of the LFP cathode material plant at the Daegu National Industrial Complex and will begin full-scale mass production (SOP) at the end of the third quarter this year.
L&F Plus, responsible for the production and sales of LFP cathode materials for L&F, has completed the plant just nine months after breaking ground in August last year. The facility occupies approximately 100,000 square meters at the Phase 2 site of the National Industrial Complex in Guji-myeon, Dalseong-gun, Daegu, with a total investment of KRW 338.2 billion.
L&F plans to first establish a mass production system for 30,000 tons of LFP cathode materials annually by the end of the third quarter this year, and expand its total annual production capacity to 60,000 tons by the first half of 2027 to meet growing demand for energy storage systems (ESS) in North America.
The company aims to proactively respond to the growing demand for non-Chinese supply chains, given that the global LFP supply chain is currently centered in China. L&F stated that it has established one of the world's first large-scale early mass production systems among companies outside China.
L&F Plus will leverage its high-density third-generation LFP technology to mass produce products with higher energy density compared to conventional offerings. The company intends to overcome the traditionally low energy density of LFP batteries, targeting high value-added markets.
The application areas are also expanding. The company is in discussions with customers to supply ESS for power grids and artificial intelligence (AI) data centers, as well as for the affordable electric vehicle (EV) market. In the mid- to long-term, additional capacity expansion is under consideration.
L&F is also working to internalize technology to secure cost competitiveness and supply chain stability. Based on its technological expertise in the NCM precursor field, the company is simultaneously pursuing internalization of FP (iron phosphate) precursors and development of next-generation precursor-free processes (Fe2O3, iron oxide).
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Heo Jehong, CEO of L&F, stated, "The completion of the L&F Plus plant marks not only the expansion of our production base, but also the beginning of a two-track cathode material strategy, with high-nickel and LFP growing together. We aim to become a key global partner in the battery materials market, covering both EV and ESS sectors."
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