L&F has begun construction of a lithium iron phosphate (LFP) cathode material factory.
L&F recently completed the establishment of a subsidiary, L&F Plus Co., Ltd., dedicated to the production and sale of LFP cathode materials, and noted that it has entered the main construction phase of its domestic plant since last month.
L&F Plus Co., Ltd. is investing approximately 338.2 billion won to establish an LFP cathode material factory with a land area of about 100,000 m² (approximately 30,000 pyeong) in the national industrial complex in Guji-myeon, Dalseong-gun, Daegu.
The factory is expected to have a maximum annual production capacity of 60,000 tons (t) of LFP cathode materials upon completion. L&F aims to complete construction by the first half of 2026 and to initiate mass production in the second half, while also considering additional expansions based on market conditions.
L&F plans to accelerate its entry into the mid-priced electric vehicle (EV) and energy storage system (ESS) markets based on its LFP cathode material business. In particular, the company plans to advance its schedule, increase production, and implement a flexible supply strategy in response to customer requests.
An official from L&F said, "We are securing the competitiveness to proactively respond to the demand for LFP cathode materials based on differentiated technology and quality stability," adding, "We will make the LFP business a revenue-generating growth axis through early mass production and rapid stabilization."