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POSCO Future M builds $282 million synthetic graphite anode material plant in Thai Nguyen Province — relocating EV supply

2026.06.11

This article is based on what we could verify As of August 1, 2026 This article is based on public materials and news reports from Vietnam. Vietnam's tax system, regulations, and administrative divisions change frequently, so information here may have been updated since publication. For actual business decisions, please confirm the latest details with the relevant government authorities or local experts as primary sources.

POSCO Future M, under South Korea's POSCO Group, will invest Thai Nguyen Province, $282 million to build a plant for EV battery synthetic graphite anode material in northern Vietnam. Located in the Song Cong II Industrial Park, it targets groundbreaking in Q3 2026 and commercial production in Q4 2028. This will be the company's first overseas project in the synthetic graphite field.

Annual production capacity will be 46,000 tons, making it Vietnam's first large-scale dedicated battery anode material plant.

Vietnam's first overseas synthetic graphite base, at Song Cong II Industrial Park

Thai Nguyen Province authorities issued POSCO Future M an investment registration certificate and business registration on April 23, 2026. The construction site is the Song Cong II Industrial Park. POSCO entered this business in 2011, and this marks the first time it has moved synthetic graphite anode material production overseas.

Projecting annual output of 46,000 tons and revenue of $150 million

Once operational, annual production capacity of synthetic graphite will reach 46,000 tons. The company expects annual sales of more than $150 million and a corporate tax contribution of $5.8 million per year. It plans to employ more than 300 people, with a vision of supplying battery materials not only to Southeast Asia but to markets worldwide. For Vietnam, this will be its first large-scale dedicated battery anode material facility.

Investment and operation schedule

Item	Description
Investment amount	$282 million (approximately 43.7 billion yen)
Construction site	Song Cong II Industrial Park, Thai Nguyen Province
Product	synthetic graphite anode material
Certificate issuance	April 23, 2026
Construction start	Q3 2026
Commercial production	Q4 2028
Annual production capacity	46,000 tons
Projected annual revenue / employment	More than $150 million / more than 300 people

*Yen conversions are rough estimates at USD 1 = approx. JPY 155. Exchange rates may vary.

Relocation of the EV supply chain to Vietnam

Anode material is a key component of lithium-ion batteries, and dependence on China has historically been high. POSCO placing a synthetic graphite base in Vietnam is positioned as a move to disperse and relocate part of the EV battery supply chain away from China. POSCO's cumulative investment in Vietnam since 1991 has reached $2 billion, and this project is an extension of that.

Impact on companies operating in Vietnam

Thai Nguyen Province attracted $5.4 billion in registered foreign investment in Q1 2026, taking the top spot nationwide for FDI attraction. Battery material and EV-related supply chains are increasingly clustering in the north, expanding trading opportunities for Japanese companies in related parts, equipment, and logistics. The northern region, where a battery industry cluster is forming, is rising in priority as an expansion destination.

Conclusion

POSCO Future M's $282 million investment will create Vietnam's first large-scale anode material plant, symbolizing a de-risking of the EV battery supply chain away from China. Ahead of the plant's start-up in Q4 2028, the battery cluster in Thai Nguyen Province in the north is set to grow even thicker.