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

SEOUL (Financial Eye) – South Korea’s POSCO (NYSE:) 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:).

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.

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