Posco Future M, Hyundai Motor Group explore Vietnam anode investment
Posco Future M said Tuesday that it had signed a letter of intent with Hyundai Motor Group to explore investment and business cooperation in its artificial graphite anode material project in Vietnam, aiming to strengthen the global battery supply chain. Under the agreement, Hyundai Motor Group will consider an equity investment of around 100 billion won ($74.6 million) in the project and seek…
Posco Future M and Hyundai Motor Group have signed a letter of intent to explore investment and business cooperation in Posco Future M's artificial graphite anode material project in Vietnam. The agreement, worth around 100 billion won ($74.6 million) in potential equity investment by Hyundai Motor Group, aims to strengthen the global battery supply chain and secure a stable supply of battery materials for Hyundai's global operations.
The partnership builds on a memorandum of understanding signed last year and is expected to bolster Posco Future M's overseas production base and accelerate the construction of its planned Vietnam plant.
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