POSCO Chemical has secured a contract worth 40 trillion KRW (47.06 billion AUD) to supply high-nickel NCA cathode materials for electric vehicle (EV) batteries to Samsung SDI for ten years, from 2022 to 2032.
This agreement marks the largest and longest-term order in POSCO Chemical's history and expands its product portfolio to include NCA materials alongside NCM and NCMA cathode materials.The partnership enables Samsung SDI to establish a stable supply chain for core materials,
as POSCO Group has a complete value chain, from mining rights for lithium and nickel to material production and recycling. POSCO Chemical plans to strengthen its long-term collaboration with Samsung SDI to target the EV market, leveraging its global mass production capacity and raw material competitiveness
.This collaboration is expected to accelerate Samsung SDI's vision of becoming a global top-tier company in the rapidly growing EV battery market, while POSCO Chemical aims to maintain its position as a global market leader in battery materials through world-class cathode material production and cooperation with Samsung SDI.
The prevalence of lithium-ion batteries in everyday items has significantly increased, and this trend is expected to continue in the future. As technology advances, we can expect to see even more widespread use of these batteries in various applications, further integrating them into our daily lives.
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