L&F announced on the 11th that it has signed a long-term supply contract for high-nickel cathode materials worth 3.5184 trillion won with a global original equipment manufacturer (OEM). The contract counterparty, supply region, and contract duration were kept confidential at the client's request. The company noted, "While we cannot disclose detailed information due to the non-disclosure clause in the contract, this is a strategic supply contract with a global OEM."
The product for which the long-term supply contract was signed is an ultra-high-nickel product with a nickel content of 95%, featuring a monocrystalline structure and L&F's unique blending technology. Industry insiders believe this product is likely to be supplied in 46 mm diameter cylindrical battery format.
Ryu Seung-heon, vice president of L&F, said, "It is meaningful to secure a significant contract during this challenging time of declining electric vehicle demand that began last year," adding, "Based on this contract, we will create continuous growth momentum through business expansions in new ventures such as lithium iron phosphate (LFP) cathode materials and additional order activities."