LG Chem to build world’s largest cathode material production plant
기사입력 : 2022-01-12 09:32
In order to target the rapidly growing battery material market, LG Chem and Gumi local government agreed to build the world's largest cathode material production plant in Gumi.
LG Chem announced on the 11th that it held a groundbreaking ceremony for the Gumi cathode material production plant, which will be applied with Gumi city’s job model, at the Gumi Convention Center located in Gumi, Gyeongsangbuk-do.
At the event, President Moon Jae-in, Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki, Minister of Trade, Industry and Energy Moon Seung-wook, Minister of Employment and Labor Ahn Kyung-deok, Minister of Small and Medium Venture Business Kwon Chil-seung, Gumi Mayor Jang Se-yong, Rep. Lee Hak-young, Rep. Koo Ja-geun, and LG Chem Vice Chairman Shin Hak-chul attended.
Cathode materials, which account for about 40% of total battery production costs, are the core materials that determine major performance such as capacity and battery life. It is also called four core materials for battery also with anode materials and liquid-based electrolytes for separator.
LG Chem will invest about 500 billion won in the plant, which will be constructed on about 60,000㎡ site in Gumi National Industrial Complex District 5, to secure annual production capacity of 60,000 tons by 2025.This is the world's largest capacity of single factory and it is the amount that can produce some 500,000 batteries for high-performance pure electric vehicles (EV) per year.
The Gumi plant will be constructed as a NCMA (nickel, cobalt, manganese, and aluminum) dedicated production line for next-generation EV batteries, in which LG Chem is currently focusing on.
The NCMA cathode material is a product that combines LG Chem's material technologies. It increased nickel content to around 90% to improve the energy density. At the same time, it is applied with aluminum to enhance stability, showing high power performance and stability.
LG Chem is planning to expand its production capacity from current 80,000 tons to 260,000 tons by 2026 to lead the global cathode material market. It is currently developing cobalt-free technology and single crystal cathode material for the next-generation solid-state battery.
LG Chem Vice Chairman and CEO Shin Hak-chul said, “We will invest in technologies and facilities of Gumi plant to make it as a best production plant to respond rapidly growing global demand for EV batteries,” and that, “LG Chem is planning to establish Gumi plant as a differentiated business base that continues to grow by speeding up out new growth engines.”
by Global Economic Reporter Myeong-seok Chae ; Translate by Gounee Yang