POSCO Future M began to ship single-crystal cathode material produced at its plant in Pohang, North Gyeongsang Province, following its supply of the battery material for high-performance electric vehicles (EVs) from its factory in Gwangyang, South Jeolla Province, the company said Wednesday.
POSCO Future M said Monday it aims to achieve 3.4 trillion won ($2.57 billion) in annual operating profit by 2030 as it accelerates the expansion into the manufacturing of secondary battery materials amid the robust electric vehicle (EV) demand.