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[Apha Biz=(Chicago) Reporter Paul Lee] L&F will invest 600 billion won to build a lithium hydroxide production plant in Hadong, Gyeongsangnam-do.
Lithium hydroxide is a key ingredient in battery cathode materials. It is a lithium compound used to make trivalent anode materials by inserting nickel, cobalt, manganese, etc. into a precursor.
L&F announced on the 20th that it has signed a memorandum of understanding (MOU) with Gyeongsangnam-do, Hadong-gun, and Gwangyang Bay Free Economic Zone Authority to invest in lithium hydroxide manufacturing plants, a key material for secondary batteries.
L&F has decided to build a lithium hydroxide production facility with an annual capacity of 20,000 tons (about 30,000 pyeong) on the site of Daesong Industrial Complex in Hadong-gun, Gyeongsangnam-do. Starting with the first investment in November this year, the company plans to inject funds sequentially by 2028.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
