Posco to invest in global artificial graphite anode plant in Vietnam

Posco Future M Company, the artillery materials subsidiary of South Korea's Posco Holdings, announced plans to put KRW 357 cardinal (US$ 239 million) successful a caller installation successful Vietnam for the accumulation of artificial graphite anode materials for electrical conveyance (EV) batteries, pursuing reports of a KRW 1 trillion (US$ 670 million) five-year proviso declaration with an unnamed planetary automaker. Artificial graphite anodes are cardinal artillery components that assistance velocity up charging show and widen artillery life.

Posco confirmed that the caller installation volition beryllium built successful Thai Nguyen, an concern metropolis successful the northbound of the country, which is expected to “enhance its prime and outgo competitiveness, portion expanding accumulation capableness arsenic its planetary orders proceed to increase.”

The institution confirmed that it has been successful ongoing discussions with aggregate customers regarding the proviso of artificial graphite anode materials and is present “making a strategical concern to standard up accumulation capableness and fortify its concern competitiveness.”

Construction of the caller works is scheduled to statesman successful the 2nd fractional of this year, with wide accumulation targeted for 2028. The institution confirmed that the installation volition beryllium built connected a tract susceptible of supporting accumulation of up to 55,000 metric tons per year, with enlargement to beryllium carried retired successful phases arsenic further orders are secured.

Posco said successful a statement: “As commercialized regulations and protectionism intensify worldwide, the request to stabilise proviso chains for cardinal artillery materials is becoming progressively critical. While request for the worldly continues to turn steadily, dense reliance connected a constricted fig of countries has made proviso concatenation diversification an urgent priority.”

The institution presently operates an artificial graphite anode worldly works successful Pohang, successful South Korea’s Gyeongsangbuk-do province, with an yearly accumulation capableness of 8,000 metric tons. It expects that the cognition and expertise gained done its existing home works volition assistance it “produce cost-competitive products astatine its Vietnam installation for its planetary customers.”

Posco said Vietnam offers important outgo advantages compared with galore different countries successful the region, from archetypal concern to ongoing costs specified arsenic electricity, labour, and logistics, with a “cost operation that remains competitory adjacent comparative to different Southeast Asian countries, specified arsenic Indonesia. The state besides benefits from well-developed concern infrastructure, including a reliable powerfulness grid, and is actively cultivating favorable commercialized conditions with large markets, including the US, done its export-driven economical maturation strategy.”