South Korean battery manufacturer SK On has finished developing its own lithium iron phosphate (LFP) battery and mass production will start earliest by 2026, a spokesperson for the company told Argus.
But the plan will also be dependent on demand and the company has not yet decided the production site, the spokesperson said. The spokesperson did not provide further details such as planned capacity.
SK On last year disclosed a plan to make its largest domestic investment of 1.5 trillion won ($1.16bn) to build its third and largest battery plant in South Korea's Seosan city. The plant will have a production capacity of around 14 GWh/yr by 2028, which would quadruple the firm's domestic battery output to 20 GWh/yr. The plant is likely to be completed in 2025.
SK On in February secured the option to source 34,000t of natural graphite anode products from US-based mineral company Westwater Resources over 2027-2031. The firm said it plans to use those for its battery plants in the US.
But the firm's second battery joint venture with automaker Ford Motor in US' Kentucky, which has a capacity of 43 GWh/yr, faces delay as Ford has decided to scale back its EV plans.
