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Photo: L&F |
[Alpha Biz= Kim Jisun] SEOUL, June 5 — L&F said its subsidiary L&F Plus has been selected to receive 220 billion won ($160 million) in long-term, low-interest loans to support battery materials production.
The funding, including 170 billion won from a government-backed advanced strategic industry fund, will be used to build South Korea’s first large-scale production facility dedicated to LFP (lithium iron phosphate) cathode materials.
L&F Plus plans to begin mass production with an annual capacity of 30,000 tons by the third quarter of this year, with a goal of reaching 60,000 tons by the first half of 2027.
The investment comes as demand for LFP cathodes rises in global electric vehicle and energy storage markets, and aligns with government efforts to strengthen domestic supply chains for key battery materials.
Alphabiz Reporter Kim Jisun([email protected])
https://www.alphabiz.co.kr/news/view/1065608833473743
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.
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