POSCO Chemical is able to produce high-nickel cathode materials in the US and China.

POSCO Chemical revealed that the Ministry of Trade, Industry and Energy has approved the 80% high-nickel cathode material design, manufacturing, and process technology exports.

High-nickel cathode material is a product that has been registered as a national core technology. National core technology is essential for high-tech industrial production, so the government puts a strict security requirement when exporting overseas. There are 75 technologies in 13 fields, including semiconductors, batteries, and steel, are considered as national core technologies.

Cathode material is one of the four core materials for secondary batteries. It accounts for about 40% of the battery manufacturing cost. High-nickel cathode materials have a significant role in increasing the mileage of EVs.

POSCO Chemical and General Motors (GM) have established a joint venture (Ultium CAM), and are building a high-nickel cathode material plant in Canada with an annual capacity of 30,000 tons. The production is scheduled in the first half of 2025 with the goal of completion in next June. It will use POSCO Chemical's high-nickel technology.

POSCO Chemical is also promoting the expansion of Zhejiang Pohwa, a joint venture with China's Zhejiang Huayou Cobalt. Zhejiang Pohwa is investing from 5,000 tons to 35,000 tons per year, and high-nickel cathode materials produced here as well. POSCO Chemical will expand its mass production capacity in North America, Europe and China to respond to the growth of the EV market.

By Reporter Jiwoong Kim (jw0316@etnews.com)