South Korea’s POSCO breaks ground for the solid-state electrolyte production plant in Yangsan
South Korean steel manufacturer POSCO has announced that it has broken ground for a plant that will produce solid-state electrolyte (SSE), a key component in solid-state batteries.
The plant in Yangsan, about 420 kilometers southeast of Seoul, will be able to produce 24 tons annually from the second half of the year, according to POSCO.
SSE is one of the major components for future electric vehicle (EV) battery production, as it facilitates an EV to run a longer distance.
The steel manufacturer has been making efforts to enhance its non-steel businesses, such as EV battery materials and hydrogen, amid stiff emission regulations.
Earlier this month, POSCO launched a holding company to better develop non-steelmaking businesses.
The steel manufacturing group will enhance its production capacity of cathode and anode materials used for batteries to 420,000 tons and 260,000 tons, respectively, by 2030.
Its annual production of lithium and nickel will amount to 220,000 tons and 140,000 tons, respectively, by that year.
The group will also spend 10 trillion won (US$8.3 billion) by 2030 on its hydrogen business to produce 500,000 tons of hydrogen per year.