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SK On and POSCO Future M signed a 1.1 trillion won LFP material supply agreement, aiming to build a US ESS supply chain that excludes China.
South Korean battery manufacturer SK On has signed a 1.1 trillion won (approximately $815 million) agreement with Posco Future M to supply lithium iron phosphate (LFP) cathode materials. Under the agreement signed on Tuesday, Posco Future M will supply LFP cathode materials to SK On over three years from 2027 to 2029. SK On stated that this move aims to build a China-free supply chain for its U.S. energy storage system (ESS) market and will use these materials to produce LFP batteries for ESS applications at its Georgia factory.
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