Posco said on Monday that it has begun construction of a new solid electrolyte factory in South Korea.
The factory, which will be run by the company’s joint venture with Jeong Kwang called Posco JK Solid Solution, will have a capacity of 24 metric tonnes per year and begin operations during the second half of the year, Posco said.
Posco JK Solid Solution will collaborate with battery makers to develop solid-state batteries for electric vehicles, Posco said.
The venture will ramp up its production capacity to coincide with the growth of the solid-state battery market, the South Korean chemical giant said.
Solid-state batteries use solid electrolytes instead of liquid electrolytes, making them less prone to fires while being able to use more energy-dense cathode and anode materials.
This can dramatically increase the drive distance of electric vehicles.