Tesla supplier L&F to invest $10 mn in Mitra Chem for US LFP production

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The two firms plan to begin mass production of LFP in 2027 through cooperation.“We checked Mitra Chem’s technology and LFP production site through due diligence in the US in January,” said L&F Chief Financial Officer Ryu Seung-Heon.“We plan to enter the US market quickly and stably with L&F’s mass production experience, Mitra Chem’s local sourcing capabilities and our customers and partners there.”MADE IN AMERICATrump urged global businesses to manufacture their products in the US while warning them if they chose to produce their goods elsewhere, they would have to pay tariffs to export them to America.

L&F Co., a South Korean electric vehicle battery materials supplier to Tesla Inc., plans to invest $10 million in Mitra Chem, a US lithium-ion battery ingredients maker, to manufacture products in the country amid President Donald Trump’s “Made in America” push.

The South Korean company aims to use Mitra Chem as a base to manufacture lithium iron phosphate (LFP), a popular, low-cost cathode material for lithium-ion cells, in the US.

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Article Details

Category: Economy

Markets: South Korea

Topics: Chem Million Production Mass Mitra Battery South Korea’s Materials Korean Manufacture

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-21 @ 17:29:41 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 286 words

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