[Courtesy of LG Chem] As part of its effort to venture into the global lithium iron phosphate (LFP) market, LG Chem Ltd. signed a memorandum of understanding with China's Huayou Group on the supply of the cathode material.According to the partnership, LG Chem and Huayou Group subsidiary Youshan will form a joint LFP cathode plant with an annual production capacity of 50,000 metric tons in Morocco. Mass production will start by the year 2026 and the target capacity is enough to produce 500,000 entry-level electric vehicles (EVs).

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