Cathode supplier L&F of South Korea signed a deal worth $9.7 billion to supply battery maker SK On, according to reports in the Korean media.
The Korea Economic Daily reported the deal is for high-nickel cathode material. Contract value is ₩13.2 trillion Won ($9.7 billion) and it will run for seven years.
The contract is for a supply volume of around 300,000 tonnes.
Both companies have been asked for comment.
