SEOUL – South Korea’s POSCO Chemical Co Ltd 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).
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.
($1 = 1,254.9900 won)
(Reporting by Heekyong Yang and Jihoon Lee; Editing by Christopher Cushing)