L&F is accelerating its lead in the global battery cathode market by launching Korea’s first mass production of lithium iron phosphate (LFP) materials, positioning itself as a key non-Chinese supplier for the fast-growing energy storage system (ESS) sector. The company will begin producing 30,000 tons annually at its L&F Plus plant by the end of September. The plant’s capacity is set to double by the end of June next year to meet surging demand for ESS in North America. “The ongoing spike in LFP demand is the biggest strategic shift we’re seeing from global customers,” L&F President and Chief Financial Officer Yu Sung-hun said. “Beyond cost, supply chain stability is now the new competitive edge accelerating LFP growth.” While high-nickel ternary (NCM) cathodes remain dominant in premium electric vehicles (EVs), LFP has become the standard for ESS and mass-market EVs due to its thermal stability, long lifespan and cost efficiency. The ESS boom, driven by artificial intelligence data centers, renewable energy integration and energy security, is structurally pushing the mark