In the file photo taken Oct. 21, 2020, a visitor attends a battery industry fair at COEX in southern Seoul. (Yonhap)
SEOUL, June 23 (Korea Bizwire) — L&F Co., a South Korean manufacturer of secondary battery materials, said Friday it has clinched a preliminary agreement with Japan’s Mitsubishi Chemical Group to collaborate on the supply of battery-grade anode materials, one of the four key components for electric vehicle (EV) batteries.
The memorandum of understanding, signed Thursday, commits the two companies to working together to “bolster the supply chains for anodes” using Mitsubishi’s proprietary technology developed to enhance battery life, the Daegu-based company said in a release.
They plan to announce the amount and scope of the investment once they work out the details on the partnership, L&F said.
Anodes are a key EV battery component that determines the lifespan, charging speed and energy density. Synthetic graphite is more widely used in anodes, as natural graphite is less efficient in terms of lifespan.
Mitsubishi Chemical has developed next-generation technology that extends the lifespan of anodes made with natural graphite, which will help battery and battery component makers improve price competitiveness, L&F said.
L&F, established in 2020, mainly produces cathode active materials for secondary batteries, along with other components, such as anodes, electrolytes and separators.
The KOSDAQ-listed company made headlines in February after it bagged a US$2.9 billion order from Tesla Inc. to supply high-nickel cathode materials from next January through December 2025.
(Yonhap)
