Doubling the production capacity compared to its competitors
Increasing its capability to respond to battery customers
LG Chem has built the world's first battery cathode material production line that is able to produce 10,000 tons per year. This production capacity is double the amount of major domestic and foreign cathode material companies such as Sumitomo and Nichia (3000-5000 tons). With the expansion of the electric vehicle market, LG Chem was able to secure a significant gap for production capacity in the midst of fierce competition to expand battery production.
On the 2nd, it was reported that LG Chem built its own facility capable of producing 10,000 tons per year for the first time globally at its 4th factory in Cheongju. The factory is being expanded to increase the cathode material production, and has started its trial production. The line size is equivalent to that of competitors, but the production speed has increased more than two-folds. This new line will operating in the second half of the year, and LG Chem will add two new lines to the 4th plant. There will be at least three 10,000-ton capability lines will be added next year alone.
LG Chem's annual cathode material production capacity will increase from 80,000 tons to 110,000 tons next year, which is the largest scale among all domestic and foreign cathode material companies. The production line was greatly increased by the optimization method, process and heat expanding. The advancement technologies for firing process design and the topping that lays out various chemicals were effective in optimizing the production line.
LG Chem plans to produce a cathode material production facility with an annual capacity of 260,000 tons in the U.S., Europe, and Korea by 2026, and it will apply newly developed process technology.
Earlier this month, LG Chem Vice Chairman Hak-chul Shin claimed at 'Investor Day’ that,”LG Chem has already shown the world of its highest production capabilities in the firing process, which is the core of the cathode material process. We will grow our annual battery materials business from KRW 1.7 trillion to more than KRW 21 trillion by 2030 through the development of next-generation materials that can significantly improve battery performance and safety, and innovative process technology.”
By Staff Reporter Tae-jun Park (gaius@etnews.com)