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Industry
SK On signs 160 billion won LFP cathode material supply deal with L&F
SK On said it signed a supply contract with L&F for LFP cathode materials used in batteries made from lithium, phosphate and iron. The contract runs from Sept. 17 through Dec. 31, 2028, with a value of about 160 billion won. The materials will be used at SK On’s Seosan plant in South Korea and its Georgia plant in the United States for energy storage system LFP cell production lines.
Industry
K battery makers see end of chasm tunnel, profitability within reach in Q2
South Korea\'s three major battery makers posted weak first-quarter results. LG Energy Solution and Samsung SDI swung to operating losses, and SK On is also expected to remain in the red. Brokerages see the first quarter as a cyclical trough and expect a shift to profitability from the second quarter as energy storage system sales ramp up and electric-vehicle demand recovers. Key variables include the pace of ESS revenue recognition and normalization of North American production.
Industry
K-battery big three look to ESS to offset EV losses
South Korea’s three main battery makers are accelerating a shift toward energy storage systems (ESS) to help offset weak electric-vehicle demand this year. Analysts expect LG Energy Solution’s ESS revenue to surge, while Samsung SDI is seen securing large orders and converting North American lines to ESS output. SK On is restructuring to enable ESS supply and adding safety technology. AI data centre power demand is seen boosting U.S. ESS needs, though fixed-cost burdens and tariff uncertainty remain risks.
