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POSCO Chemical plans to invest in $633 million battery materials plant with GM

05/27/2022

Less than a minute

2022.05.27 06:31

POSCO Chemical plans to invest in $633 million battery materials plant with GM
FILE PHOTO: The logo of POSCO is seen at the company’s headquarters in Seoul, South Korea, July 20, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) – South Korea’s POSCO (NYSE:PKX) Chemical Co Ltd said on Friday it plans to invest in a $633 million battery cathode materials plant in Canada with U.S. automaker General Motors Co (NYSE:GM).

The South Korean materials maker said in a regulatory filing that it plans to invest $278 million through September 2024 on the joint venture plant with GM.

In December, the two companies announced their plans to form a joint venture in North America.

($1 = 1,254.9900 won)

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05/27/2022

Less than a minute