South Korea’s LG Chem has announced a new partnership with China’s Huayou Group to establish two plants in Morocco for the production of LFP cathodes and lithium conversion, which are essential components in the manufacture of batteries for electric vehicles.
The South Korean LG Chem affirmed in a statement that “the first Moroccan plant, which is scheduled to start production in 2026, aims to produce 50,000 tons of lithium-iron-phosphate (LFP) cathode materials per year, enough to be installed in 500,000 entry-level electric vehicles.”
The South Korean company stated that these materials will “target the North American market and could benefit from subsidies under the U.S. Inflation Reduction Act (IRA) since Morocco is a free trade partner with the US.”
LG Chem also announced a further investment plan with Chinese operator Huayou Cobalt to build “a lithium conversion plant in Morocco, with the aim of starting mass production by 2025 with an annual capacity of 52,000 tons of lithium.”
