Lithium Americas Corp (LAAC)

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POSCO’s new Chairman Kwon Oj-joon, who is scheduled to take office on March 14, has decided on electric vehicles (EVs) as his company’s future growth driver. POSCO and its subsidiaries are planning to create new business opportunities in the EV industry by working on automobile steel sheets, auto parts, and battery materials.

POSCO’s new Chairman Kwon Oj-joon.The steelmaker announced on March 13 that its subsidiaries participate in the first International Electric Vehicle Expo, which kicks off on March 15 in Jeju. POSCO, POSCO ICT, POSCO Chemtech, POSCO ESM, and many others are showing off their advanced technology in the world’s first EV expo.

The company is currently supplying steel sheets for Evs, and is going to focus more on related components and materials. The super-light, high-strength steel plates developed by POSCO are used mainly to manufacture EV frames and outer panels. When compared to existing products, these use at least 40 percent more ultra-high strength steel (UHSS) to reduce the weight of a vehicle body by approximately 25 percent while also satisfying the international collision safety regulations that become effective in 2015. The products are already used in Renault Samsung Motors’ SM3 Z.E. and GM Korea’s Spark EV. Kia Motors’ Soul EV is going to use the same products, too.

POSCO is concentrating as well on the development of lithium, which is a key material for secondary batteries, magnesium used in vehicle frames and panels, and neodymium permanent magnets for use in motors. The company will set up a pilot plant in Argentina in this context.

The steelmaker focuses its corporate resources on the promotion of its electrical steel sheets, too. The demand for electrical sheets is skyrocketing nowadays as a material for EVs, hybrid cars, and the new and renewable energy industry. In eco-friendly cars, these are used in motors or as iron cores of transformers. POSCO had established electrical steel sheet manufacturing facilities in Pohang (annual capacity of one million tons) and China (0.3 million tons) and, more recently, built another one with a capacity of 0.3 million tons in India late last year. Tesla Motors’ Model S as well as the Spark EV and Soul EV are using the sheets.

In the meantime, POSCO Chemtech and POSCO ESM are striving to develop anode and cathode materials employed in rechargeable batteries. The former built an anode material plant in 2011 and released Korea’s first anode material product for EV batteries. The latter has recently unveiled a lithium-manganese anode material having excellent efficiency.

As mentioned above, POSCO is preparing for the era of EVs by working on the various materials not limited to steel. The other global leading steelmakers are struggling to find clients amid the supply glut across the world, but POSCO is sharpening its competitive edge with parts and materials for EVs, which require higher quality than the auto parts in general.

At the same time, POSCO ICT is planning to take charge of establishing EV infrastructure and integrated monitoring center management. BMW has signed an agreement for EV charging infrastructure with POSCO ICT before the debut of its EV i3 in April this year. POSCO ICT is the first private-sector company in Korea that is engaged in this type of business.

- See more at: http://www.businesskorea.co.kr/english/news/industry/3685-posco-growth-engine-new-chairman-posco-paying-attention-electric-vehicle-industry#sthash.DSllXvjr.dpuf

POSCO, established an anode material plant with an annual production capacity of 600 tons at the Jeoneui Industrial Complex in Sejong City on June 28.

The establishment of the new anode material plant increased POSCO Chemtech's total annual capacity up to 3,000 tons. Anode material is a core material of rechargeable cells that are used widely for mobile devices such as smartphones, electric cars and energy storage systems.

Unlike the rechargeable-cell market where Korean companies, including Samsung SDI and LG Chem, are vying for the world's No. 1 spot, the anode material market has been dominated by Japanese and Chinese suppliers. In this segment, accordingly, the demand for localization has increased acutely. With the latest capacity expansion, POSCO Chemtech expects more than 30 billion won worth of import substitution effect in a year.