POSCO Chemical Co., a battery material unit of South Korea’s steel giant POSCO Holdings Inc., broke ground on Jan.31 to establish its second plant to produce artificial graphite, a key material used as anodes in batteries for electric vehicles.
POSCO Chemical completed construction of its first artificial graphite plant in December 2021, becoming the first Korean firm that has localized production of the material.
Last year, POSCO Chemical signed a 939.3 billion won ($764.3 million) deal to provide artificial graphite to Ultium Cells LLC, a joint venture between LG Energy Solution Ltd.and General Motors Co., from January 2023 to December 2028.
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