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[Alpha Biz=(Chicago) Reporter Kim Jisun] Cosmo Advanced Materials (CEO Hong Dong-hwan), which specializes in eco-friendly high-tech materials, will supply secondary battery cathode active materials used in batteries for electric vehicles to LG Chem. The industry estimates that the total size will reach 34,000 tons from June this year to 2025.
Cosmo Advanced Materials announced on the 22nd that it has signed a basic purchase contract to supply at least 330 billion won worth of bipolar materials to LG Chem by April next year.
According to a report by Maeil Business, the company has signed a memorandum of understanding (MOU) with LG Chem for mid- to long-term business cooperation in addition to the basic purchase contract. Although there may be differences in sales depending on changes in material prices and the method of supply and demand of raw materials, the minimum sales secured by Cosmo Advanced Materials based on the current market price are estimated to be 2.4 trillion won. This is a large-scale supply agreement equivalent to 5.4 times the total sales of cosmosin materials last year.
The high nickel-based bipolar active material to be supplied by Cosmo Advanced Materials is a next-generation bipolar active material that increases output by lowering battery prices by lowering the proportion of cobalt while at the same time increasing nickel content. It will be applied to batteries for electric vehicles (EVs).
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
