The secondary battery materials company L&F is launching its lithium iron phosphate (LFP) cathode materials business in earnest.
L&F announced on the 22nd that it has signed a business agreement for LFP supply with major domestic battery cell companies.
Since the beginning of this year, L&F has continuously mentioned its entry into the mid-to-low-priced LFP market, and this agreement is the first result.
The company plans to supply products for global mid-to-low-priced electric vehicles and energy storage systems (ESS) batteries through the agreement.
An L&F official said, “There are still many variables depending on cooperation with clients, but the demand for LFP is significantly increasing, and other clients are also showing interest.”
L&F plans to start its LFP business with a scale of up to 50,000 tons and gradually expand production based on demand.
It also set a goal to become the first corporation outside of China to mass-produce and supply LFP cathode materials.