POSCO launches South Korea’s first lithium hydroxide plant

POSCO Holdings Inc. announces on November 29 that it has completed South Korea’s first lithium hydroxide plant in South Jeolla Province. The plant, being a joint venture with Pilbara Minerals, has an annual production capacity of 21,500 tonnes, which is lower than its previous expectation of 25,000 tonnes when the construction commenced on June 13 this year. As the company planning to construct a second lithium hydroxide plant with the same production capacity by 2024, the total capacity can power 1 million EVs, according to POSCO.
This move aligns with the broader trend of countries seeking to enhance their domestic production capabilities for critical battery components and increase the competitiveness of their product, amidst the expanding global market for EVs and batteries.