Ningfu New Energy Opens Wuxi Office, Strengthening Yangtze River Delta Presence and Regional Market Focus

According to a regulatory filing on the 24th, L&F announced that it signed a mid- to long-term supply agreement for lithium iron phosphate (LFP) cathode materials with Samsung SDI on the 23rd. The contract is valued at KRW 1.6067 trillion, equivalent to approximately 84.23% of L&F’s recent annual revenue of KRW 1.9074 trillion. The supply will primarily target North America, including the United States, with the contract period running from March 30 through Dec. 31, 2029.

On March 23 (local time), Toyota announced plans to invest $800 million in its Kentucky plant to prepare for a second battery electric vehicle (BEV) production line and expand capacity for the Camry and RAV4. The company will also invest $200 million across two facilities in Indiana to increase production of the Grand Highlander SUV, while advancing parallel efforts related to battery manufacturing.

COSMO Advanced Materials announced on the 23rd that it signed a strategic partnership agreement (SPA) with Battery Solution on March 3 for the development and commercialization of next-generation cathode materials.