Chinese Ternary Cathode Material Firms Tap U.S. Market via Korean Collaborations

Published: Mar 14, 2025 18:29

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[Chinese Ternary Cathode Material Companies "Entering the U.S. Market via South Korea"] Recently, South Korean battery manufacturers have consecutively signed orders with Chinese ternary cathode material companies. Based on industry trends, Chinese ternary cathode materials are expected to expand their presence in the global market, particularly in North America, from 2025 to 2027. On March 10, Easpring Technology announced the signing of a long-term supply agreement with LG Energy Solution (LGES), stipulating the supply of 110,000 mt of high-nickel and medium-nickel high-voltage multi-element cathode materials from 2025 to 2027, with a contract value of approximately 14 billion yuan. The agreement specifies "maximum supply obligations" and "minimum purchase obligations," further strengthening the partnership between the two parties. This order will enable Easpring Technology to deeply integrate into the supply chains of automakers such as Tesla, General Motors, and Volkswagen through LGES. On March 3, Easpring Technology signed a supply agreement with SK On for 17,000 mt of high-nickel cathode materials and is expected to negotiate an additional supply of 110,000 mt for 2026-2028.

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