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

Posco Future M

27/05/2022 03:33

SEOUL, May 27 (Reuters) - South Korea's POSCO Chemical Co
Ltd  003670.KS  said on Friday it plans to invest in a $633
million battery cathode materials plant in Canada with U.S.
automaker General Motors Co (GM)  GM.N .
    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.  urn:newsml:reuters.com:*:nL1N2SM1IF
    

($1 = 1,254.9900 won)

 (Reporting by Heekyong Yang and Jihoon Lee; Editing by
Christopher Cushing)
 ((Heekyong.Yang@thomsonreuters.com;))