Umicore slips after announcing EV batteries joint venture

Umicore SA

04/11/2025 09:51

** Shares in Umicore UMI.BR fall 3%, to the bottom of Belgium's BEL 20 .BFX index after the company announced a joint venture with HS Hyosung Advanced Materials 298050.KS for anode materials used in electric vehicles' batteries

** Umicore holds a minority stake in joint venture for industrialization and commercialization of battery anodes

** "(This) will allow the group to limit expenditure for the roll-out of its anode technology," says Wim Hoste, analyst at KBC Securities

** However, it is hard to estimate the potential success of Umicore's technology and the joint venture at this stage, Hoste says

** Including Tuesday's move, shares of Umicore are up over 60% this year

 (Reporting by Gianluca Lo Nostro)

 ((gianluca.lonostro@thomsonreuters.com;))