Joint Venture 'LLBS' Builds 132,000 m² Factory in Saemangeum
Annual Production to Reach 120,000 Tons by 2029... Enough for 1.3 Million EVs
L&F, a company specializing in secondary battery materials, is enhancing its competitiveness in the battery value chain by internalizing precursor production.
On October 2, L&F announced that LS-L&F Battery Solutions (LLBS), its joint venture with LS, has completed the construction of a precursor factory in the Saemangeum National Industrial Complex in Gunsan, North Jeolla Province. With the completion of this plant, L&F has secured a domestic supply chain that enables a stable supply of cathode material raw materials.
Heo Jehong, Chairman of the Board of Directors of L&F, is speaking at the completion ceremony of the LS-L&F Battery Solution (LLBS) secondary battery precursor plant in Saemangeum. L&F
LLBS is a joint venture established by L&F and LS Group in October 2023. The Saemangeum factory, built with a total investment of 1 trillion won and covering approximately 132,000 square meters, will begin with trial production and aims to produce 20,000 tons in 2026, 40,000 tons in 2027, and ultimately establish an annual production system of 120,000 tons of precursors by 2029-enough for 1.3 million electric vehicles. The plant is also expected to contribute to the revitalization of the local economy by creating about 1,000 new jobs.
L&F will use the precursors supplied by LLBS to produce high-nickel cathode materials, which will be supplied to global battery manufacturers. In particular, nickel sulfate produced by LS MnM will be converted into precursors by LLBS, and then further processed by L&F into high-performance cathode materials for delivery. This process completes the battery value chain using purely domestic technology.
At the completion ceremony, Heojehong, Chairman of the Board of Directors of L&F, stated, "The completion of the LLBS precursor factory marks a turning point for Korea's secondary battery industry and serves as a starting point for leading the global transition to eco-friendly energy."
An L&F representative commented, "At a time when the global precursor supply chain is being reorganized, the Saemangeum plant will serve as a strategic hub for localization and reducing dependence on China. We will further strengthen the trust of our global clients by reliably supplying cathode materials for everything from premium electric vehicles and mass-market electric vehicles to large-scale energy storage systems (ESS)."
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