SEOUL, June 10 (Korea Bizwire) — POSCO Future M Co., the battery materials unit of POSCO Holdings Inc., said Tuesday it has completed a key production facility as part of efforts to establish a fully integrated domestic supply chain for battery materials. The precursor plant, built within the existing cathode materials complex in Gwangyang, about [...]
SEOUL, May 22 (Korea Bizwire) — China solidified its near-total dominance of the global lithium-ion battery anode materials market in 2024, pushing South Korea’s POSCO Future M out of the global top 10 amid intensifying price competition and overproduction. According to data released Tuesday by SNE Research, global demand for anode materials reached 1.97 million tons [...]
SEOUL, May 13 (Korea Bizwire) — POSCO Group announced on Tuesday a capital injection exceeding ₩900 billion (approximately $670 million) into its key secondary battery subsidiaries, aiming to weather a temporary slump in electric vehicle (EV) demand and reinforce its position in the battery materials sector ahead of a projected market rebound. The move comes as [...]
SEJONG, Aug. 25 (Korea Bizwire) – POSCO Future M, the battery materials arm of the POSCO Group, is set to divest its entire stake in P&O Chemical, a joint venture with OCI, effectively exiting the business. According to industry insiders, POSCO Future M’s board is expected to meet on August 26 to approve the sale of [...]
SEOUL, Dec. 6 (Korea Bizwire) — POSCO Future M Co. said Wednesday it has started mass production of single-crystal cathodes at its Pohang plant for supply to Ultium Cells LLC, a South Korea-U.S. battery joint venture. The battery materials unit of steel maker POSCO said it has started mass production of NCMA (nickel-cobalt-manganese-aluminum) single-crystal cathodes, [...]
SEOUL, Aug. 28 (Korea Bizwire) — POSCO Future M Co. said Monday it aims to achieve 3.4 trillion won (US$2.57 billion) in annual operating profit by 2030 as it accelerates the expansion into the manufacturing of secondary battery materials amid the robust electric vehicle (EV) demand. The chemical unit of South Korean steel giant POSCO [...]
SEOUL, July 24 (Korea Bizwire) — POSCO Future M Co. said Monday its second-quarter operating profit fell 5.6 percent from a year earlier, while unveiling a plan to spend over 680 billion won (US$529 million) to expand its manufacturing facility for a key electric vehicle (EV) battery material. Operating income reached 52.1 billion won in [...]
SEOUL, June 2 (Korea Bizwire) — POSCO Future M Co. said Friday it has agreed with U.S. General Motors Co. to build a facility to manufacture precursors, expanding the joint venture into the intermediate battery material. Ultium CAM, the joint venture between the two companies, will seek to complete the precursor plant by 2026, in [...]
SEOUL, May 30 (Korea Bizwire) — POSCO Future M Co., a major South Korean manufacturer of secondary battery materials, said Tuesday its joint venture with General Motors Co. has secured C$300 million (US$221 million) in funding from the Canadian government for their envisioned cathode plant in Quebec. Canadian Industry Minister Francois-Philippe Champagne made the announcement [...]
SEOUL, May 11 (Korea Bizwire) — POSCO Future M Co., a major South Korean battery components maker, on Wednesday released a Responsible Minerals Report pledging to strengthen supply chain management to ensure the use of minerals that are free from concerns related to human rights infringement and environmental destruction. In these types of reports, companies [...]