SK On targets North American energy storage market to accelerate LFP battery business development

SK On plans to accelerate the development of its lithium iron phosphate battery business for the North American energy storage system market and strive to establish a reliable supply chain to support its latest joint venture. SK On recently signed a memorandum of understanding with L&F to supply LFP cathode materials to the North American market. The move is aimed at actively responding to the growing demand for LFP batteries in the United States and strengthening the company's entry into the fast-growing ESS field.