POSCO FUTURE M will build a new artificial graphite anode materials plant in Vietnam.
POSCO FUTURE M on the 5th held a board meeting and resolved to invest about 357 billion won to build a new artificial graphite anode materials plant in Thai Nguyen, an industrial city in northern Vietnam. Construction will begin in the second half of this year, with mass production starting in 2028. The plant will be built on a site expandable to about 55,000 tons (t) and will be expanded in stages in line with additional orders.
Artificial graphite anode material is essential for improving fast-charging performance and extending battery life. Demand is steadily increasing, but dependence on a particular country is high, making it a key material in need of supply chain diversification.
POSCO FUTURE M is currently operating an artificial graphite anode materials plant with an annual capacity of 8,000 t in Pohang, North Gyeongsang Province. Based on manufacturing technology accumulated from domestic operations, the company plans to mass-produce cost-competitive products in Vietnam and supply them to global customers.
POSCO FUTURE M expects to reduce expenses such as investment, electricity, labor, and logistics through the Vietnam plant. The company said that compared with other Southeast Asian countries such as Indonesia, it can secure a competitive cost base.
POSCO FUTURE M is in talks to supply cathode and anode materials with many customers in Korea, North America, and the European Union (EU). The company said, "We are pursuing full internalization of the supply chain across the entire process, from anode raw materials to intermediate materials and product manufacturing," and "We are drawing attention as an alternative for diversifying the supply chains of global automakers and battery makers."