Business · Companies · 2 hrs ago
L&F signs 1.035 trillion won LFP supply deal with LG Energy Solution
South Korea’s L&F will supply LFP battery materials to LG Energy Solution under a long-term deal worth about 1.035 trillion won.
The supply will run from 2028 through 2031, and L&F plans to expand a factory to meet the order.
LFP is a type of battery chemistry, and the deal expands a partnership that had focused on high-nickel NCM materials.
L&F has also signed LFP supply agreements with Samsung SDI and SK On this year.
Demand for LFP materials is growing as energy storage systems expand, including to support AI data centres.
Companies are also seeking supply chains outside China amid tighter US rules on certain foreign entities.
L&F currently has annual LFP production capacity of 30,000 tonnes and plans to raise it to 60,000 tonnes by the first half of 2027, with further expansion under consideration.
L&F signed a long-term deal to supply LG Energy Solution with about 1.035 trillion won worth of LFP cathode materials.
The supply period is four years, from 2028 through 2031.
L&F plans to supply the materials after expanding a new factory.
The agreement expands the companies’ existing cooperation, which had focused on high-nickel NCM cathode materials.
L&F said it aims to respond to global customers’ demand for supply-chain diversification using its domestic production base.
- Who
- L&F and LG Energy Solution.
- What
- L&F agreed to supply LG Energy Solution with about 1.035 trillion won worth of LFP cathode materials.
- When
- The companies signed the deal on November 2, 2026. Supply is scheduled for 2028 to 2031.
- Where
- Not stated.
- Why
- The agreement expands their cooperation to LFP cathode materials and diversifies L&F’s products and customer portfolio.
This story does not have two clearly opposing sides.
L&F signed a medium- to long-term LFP cathode-materials supply deal with Samsung SDI.
L&F signed a medium- to long-term LFP cathode-materials supply deal with SK On.
L&F Plus began mass production of LFP cathode materials at an annual capacity of 30,000 tonnes.
L&F and LG Energy Solution signed the long-term supply agreement.
L&F announced the agreement.
- Deal value
- About 1.035 trillion won
- Supply period
- 2028–2031
- Material
- Lithium iron phosphate (LFP) cathode materials
- Current annual production capacity
- 30,000 tonnes
- Planned capacity
- 60,000 tonnes by the first half of 2027