Government Approves Export of Core Technology
POSCO Chemical has been allowed to use its high-nickel cathode material technology, which is designated as one of Korea’s national core technologies, in overseas production bases such as joint venture plants in North America and China.
The Korean Ministry of Trade, Industry and Energy (MOTIE) has recently approved the export of POSCO Chemical's technology to design and manufacture high-nickel (nickel content exceeding 80 percent) cathode materials, the company announced on Jan. 26.
The Ministry of Trade, Industry and Energy has designated 75 technologies in 13 fields as national core technologies. Companies owning these technologies are required to win government approval when they want to export them.
With the government approval, POSCO Chemical can use its technology to produce high-nickel cathode materials at Ultium CAM, a joint venture with General Motors, and Zhejiang POSCO-Huayou New Energy in China.
Ultium CAM plans to complete a high-nickel cathode material plant with an annual capacity of 30,000 tons in Quebec, Canada by June 2024 and start to roll out products beginning in the first half of 2025.
Zhejiang POSCO-Huayou New Energy, a joint venture between POSCO Chemical and Huayou Cobalt, a Chinese cobalt company, is currently expanding its cathode material production capacity from 5,000 tons to 35,000 tons per year. It plans to produce 20,000 tons beginning from June 2024 and 30,000 tons from June 2025.