LS-L&F Battery Solution (LLBS) as a joint venture by LS Group and L&F has completed construction of a plant for the production of battery precursors in Saemangeum, South Korea. The company invested the equivalent of around 707 million US dollars in the 32.6-acre site.
120,000 tons per year starting 2029
Meanwhile, LLBS has begun trial production and aims to reach an annual production capacity of 20,000 tons by 2026. The company plans to increase its capacity to 40,000 tons per year by 2027 and 120,000 tons per year by 2029. According to LLBS, this amount would correspond to the material requirements for around 1.3 million electric vehicles.
Establishing an own supply chain
The group claims to reduce its dependence on Chinese suppliers. According to SNE Research, approximately 90 percent of the NCM precursors used in South Korea currently originate from China. LS intends to establish a domestic supply chain, from processing raw materials to delivering finished precursors to its partner, L&F. The company will work with its subsidiary, LS MnM, which is expected to produce nickel sulfate on a large scale by 2029.
