Posco Future M wins W1tr EV battery anode supply deal
Posco Future M said Monday it has won a 1 trillion won ($668.2 million) contract to supply electric vehicle battery anode materials to a global automaker, its largest deal since entering the business in 2011.
While the customer has not been disclosed, the agreement covers 2027-2032 and includes an option for extension upon mutual consent. The contract is part of a broader package arrangement that also includes a natural graphite anode supply deal signed in October.
Building on this partnership, Posco Future M plans to explore expanded collaboration with the customer in cathode materials and lithium-related businesses.
To meet the supply commitment, Posco Future M has begun expanding its anode material production capacity beyond its Pohang facility in North Gyeongsang Province, which has an annual capacity of 8,000 metric tons.
On March 5, the company announced a 357 billion won investment to build a new artificial graphite anode plant in Vietnam. The latest supply agreement secures a customer for the first phase of the project, with additional orders expected to support a second phase of expansion.
According to the company, the Vietnam project is expected to enhance cost efficiency and product competitiveness, supporting its large-scale production capacity and expanding overseas sales.
Posco Future M has accelerated its global expansion, supplying anode materials to clients, including General Motors and a major Japanese battery manufacturer, in addition to domestic battery makers.
The company stated,
The latest contract underscores Posco Future M’s growing competitiveness in the battery materials sector, as global industries such as electric vehicles and energy storage increasingly prioritize stable supply chains.
As Korea’s only producer of graphite-based anode materials, Posco Future M has helped strengthen the domestic battery supply chain since localizing natural graphite anode materials in 2011 and beginning mass production of artificial graphite anodes in Pohang in 2021. The company has also pursued greater supply chain integration, from raw materials to intermediate processing and final production.
The battery materials supplier currently produces both natural and artificial graphite anode materials and is advancing silicon-based anodes for next-generation batteries, including all-solid-state batteries.
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Posco Future M wins W1tr EV battery anode supply deal, source
