NSP NEWS

(Seoul=NSPNEWS) = LG Energy Solutions will secure core materials in Morocco, Africa, to strengthen its battery supply chain.

In this regard, LG Energy Solutions has signed an MOU with Yahua, a leading Chinese lithium compound manufacturer, to produce lithium hydroxide in Morocco, Africa.

Morocco is a member of FTAs with the United States and the EU. Through this MOU, LG Energy Solutions is expected to further strengthen the supply chain of lithium hydroxide, a key material for cathode materials, and to respond more flexibly to the rapidly changing external business environment, such as the US Inflation Reduction Act(IRA) and the EU Critical Raw Material Act(CRMA). Lithium hydroxide is used as a raw material for ‘high-nickel high-capacity electric vehicle batteries’ that require high performance because it is easy to synthesize with nickel, a key raw material for cathode materials.