Posco Chemical gets 40-trillion-won cathodes deal from Samsung SDI

채사라 2023. 1. 30. 16:38
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Posco Chemical won a 40-trillion-won ($32.6 billion) order for cathodes from Samsung SDI, the company said in a regulatory filing Monday.

Samsung SDI CEO Choi Yoon-ho, left, and Posco Chemical President Kim Joon-hyeong pose for a photo after signing a cathode deal. [POSCO CHEMICAL]

Samsung SDI CEO Choi Yoon-ho, left, and Posco Chemical President Kim Joon-hyeong pose for a photo after signing a cathode deal. [POSCO CHEMICAL]

Posco Chemical won a 40-trillion-won ($32.6 billion) order for cathodes from Samsung SDI, the company said in a regulatory filing Monday.

Under the contract, Posco Chemical will provide Samsung SDI with high-nickel nickel-cobalt-aluminum (NCA) cathodes for 10 years starting later this year.

Cathodes are one of four core materials in lithium-ion batteries, which power EVs. Made of lithium, nickel, cobalt and manganese, cathode materials account for 40 percent of the production cost of an EV battery.

The latest deal is Posco Chemical's biggest and longest contract in its 60-year history.

BY SARAH CHEA [chea.sarah@joongang.co.kr]

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