Posco Chemical has begun the third expansion of its Gwangyang battery anode material factory, the company said.
The expansion will add 30,000 metric tonnes per year in production capacity.
The factory will in total have a production capacity of 70,000 metric tonnes when the third stage expansion is complete.
NCMA, or nickel, cobalt, manganese and aluminum, anode materials will be made through the expansion.
Posco increased the portion of nickel on the NCMA to 85% to 90% and increased the energy density while reducing the use of cobalt.
It will mark the first time that the company is producing NCMA anode materials. It has previously mostly made NCM.
The factory will be able to supply around 840,000 60KWh electric vehicles (EV) with anode materials per year with the expansion.
Posco begin construction of the Gwangyang plant back in August, 2018. Around 52.03 million meter square of space will be used for the entire factory.
The expanded line in go live in 2022. Posco Chemical is spending 289.5 billion won for the third expansion.
Posco is aiming to secure 20% market share in battery materials by 2030 as well as secure sales of 22 trillion won.