General Motors and POSCO Chemical establish a joint venture plant for battery materials

$General Motors(GM.US)$ General Motors (GM.N) and POSCO Chemical have jointly announced that they will establish a joint venture in North America to process battery materials for electric vehicles produced by General Motors. The two companies said that the location of the plant will be announced in 2024, and the specific investment scale will be announced later. It is reported that the battery materials produced by the plant play a key role, accounting for about 40% of the battery cost.

Article excerpted from the US Stock Research Agency