South Korea’s LG Chem, China’s Huayou’s subsidiary, to build plant in Morocco to produce LFP cathode materials
COMPANY NEWS
South Korea’s LG Chem, China’s Huayou’s subsidiary, to build plant in Morocco to produce LFP cathode materials
COMPANY NEWS

South Korea’s LG Chem, China’s Huayou’s subsidiary, to build plant in Morocco to produce LFP cathode materials

 

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South Korea’s LG Chem Ltd said on Sunday that it has entered into partnership with China’s Huayou Group’s subsidiary Youshan to build an electric vehicle battery material plant in Morocco.

The plant aims to produce 50,000 metric tonnes of lithium-phosphate-iron (LFP) cathode materials annually, enough to be installed in 500,000 entry-class EVs, LG Chem said, adding that the plant is set to start production in 2026.

LG Chem, known for manufacturing more expensive nickel-cobalt-manganese (NCM) cathodes, is entering the LFP cathode business for the first time to meet growing demand for cheaper LFP batteries.

LFP cathodes produced at the Morocco plant will be supplied to the North American market and receive subsidies from the US Inflation Reduction Act (IRA) as Morocco is a free-trade partner with the US, it said.