Posco Future M (KRX:003670) agreed to supply lithium iron phosphate (LFP) cathode materials to an undisclosed domestic battery manufacturer from 2027 through 2032, Posco said in a Thursday release.
A formal contract is expected to be signed in the third quarter. The deal marks the comany's formal entry into the LFP batterymaterials market.
The details of the final deal will be disclosed at a later time, the release said.
Shares of Posco Future M added over 3% in recent trade.
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