[Concall] 'Indian JSW and Steel Partnership' POSCO "Also Considering LFP Battery Collaboration"

POSCO Building, Yeoksam-dong, Gangnam-gu, Seoul. Photo by Younghan Heo younghan@

Jung Ki-seop, Chief Strategy Officer (CSO) of POSCO Holdings, stated during the conference call following the earnings announcement on the 30th, "In the secondary battery materials sector, economic manufacturing cost competitiveness is essential," and added, "We are considering cooperation with India's JSW Group in the secondary battery field related to LFP (Lithium Iron Phosphate) batteries."

LFP (Lithium Iron Phosphate) batteries have somewhat lower energy density but are inexpensive, making them a type of battery that is expanding its market share mainly in mid-to-low priced electric vehicles. POSCO Future M, an anode material manufacturer under the POSCO Group, has completed the development of LFP anode materials and is preparing for commercialization.

Regarding the plan to build an integrated steel plant in India with an annual capacity of 5 million tons in cooperation with JSW Group, he said, "We have currently received proposals for two factory sites and are reviewing them," adding, "The project will mainly focus on high-grade automotive steel sheets. Additionally, discussions on renewable energy are also underway."