POSCO Group has signed a long-term lithium supply agreement with SK On to target the electric vehicle (EV) battery markets in Europe and North America.
On the 25th, POSCO Group announced that it had signed a contract with SK On to supply up to 25,000 tons of lithium from this year through 2028. POSCO Group plans to begin supply in the second half of this year (June–December), after completing the quality certification process for lithium produced from the Hombre Muerto salt lake operated by POSCO Argentina.
The contracted volume is the largest since POSCO Group established a lithium production system in Argentina in 2024, and is sufficient to manufacture approximately 400,000 EVs. SK On plans to use this lithium for its EV battery projects in Europe and North America.
By entering the EV battery markets in Europe and North America, which require strict quality standards, POSCO Group has secured a long-term demand base. SK On has established a stable supply chain for lithium, a core raw material for secondary batteries.
The two companies also plan to cooperate in the rapidly growing energy storage system (ESS) market. They will jointly review cooperation measures for waste battery recycling with POSCO HY Clean Metal, POSCO Group’s secondary battery recycling subsidiary.
Byeon Jong-guk
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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