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

Reuters

Published May 26, 2022 11:12PM ET

Updated May 26, 2022 11:35PM ET

SEOUL (Reuters) - South Korea's POSCO (NYSE:PKX) 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 (NYSE: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.