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 a joint artificial graphite anode material project in Vietnam. The agreement aims to strengthen the global battery supply chain and secure a stable supply of battery materials for Hyundai Motor Group's global operations.
Hyundai Motor Group will consider an equity investment of around 100 billion won ($74.6 million) in the project and seek preferential purchasing rights for the materials. The partnership builds on a memorandum of understanding signed last year to expand cooperation in steel and secondary battery materials. The agreement is expected to provide POSCO Future M with a stronger footing for expanding its overseas production base and accelerate construction of its planned Vietnam plant.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
