L&F signs $9.7 bn cathode supply contract with SK On

South Korea's cathode supplier L&F Co. announced that it signed a contract with the rechargeable battery maker SK On for an electric vehicle (EV) high-nickel cathode material supply on Monday. 

The contract is valued at 13.2 trillion won ($9.7 billion) and will last until December 31, 2030, covering around 7 years.

The supply volume is about 300,000 tons, enough to equip 3 million EVs. 

Write to Sang Hoon Sung at uphoon@hankyung.com