POSCO Targets China Battery Materials Market
POSCO Group is setting out to target the Chinese market, the world’s largest secondary battery material producer, by joining hands with China’s Ronbay Group, a leading global cathode material company. Having invested at least 5.5 trillion won (about $3.93 billion) in the lithium business to build a
POSCO Group aims to expand its influence in China's secondary battery material market by partnering with Ronbay Group, a prominent global cathode material company. The two entities signed a strategic framework agreement, pledging cooperation across the entire value chain of secondary battery materials, from ore and brine lithium supply to waste battery recycling.
POSCO Group has poured an estimated 5.5 trillion won into lithium production, targeting the establishment of its own lithium production system with an annual output of 173,000 tons by 2033. This partnership is expected to bolster POSCO Group's sales channels and accelerate its ascent to become one of the global lithium production 'top 5' by 2033.
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