Posco Holdings has sent out the first batch of domestically produced EV battery materials with the shipment of lithium hydroxide to a client.
The Daegu-based cathode materials producer signed a deal to supply 176,000 tons of cathode materials to an unnamed European client.
Korea's big three in battery-making are all expected to report underwhelming first quarters as global EV makers recalibrate their sales expectations.
According to data from the Korea Automobile Manufacturers Association and the Transport Ministry, the number of registered EVs in the country reached 543,900 as of the end of 2023.
The government is considering further cutting electric vehicle (EV) subsidies next year to instead use the funds to supplement insufficient charging infrastructure, according to sources Sunday.
Lotte Chairman Shin Dong-bin visited an Evsis factory in Cheongju.
Samsung SDI is considering building an independent EV battery factory in North America to ramp up production capacity and compete with rivals.
The tire manufacturer is seeking to capitalize on the growing EV market with a European factory and the release of a dedicated tire, the EnnoV.
Posco International secured $917 million worth of EV materials deals with U.S. and European automakers to supply permanent magnets.
Queensland Pacific Metals CEO Stephan Grocott told the JoongAng Daily in an interview that the delay is no cause for concern.
Korea JoongAng Daily Sitemap