Posco Future M in Honda deal
Following discussions since April 2023, South Korea’s Posco Future M and Honda have reached a basic agreement on collaboration for the production of cathode materials for electric vehicle (EV) batteries in Canada. They will now begin detailed discussions with the goal of signing a joint venture agreement before the end of 2024.
The two companies said that they “will share each other’s strengths”, such as high value-added material technologies and electrification technologies to produce high-quality cathode materials, thus ensuring the steady supply of batteries in the North American market, where mid- to long-term growth is expected
RELATED ARTICLES
International Chemical Investors Group (ICIG), the owner of WeylChem and many other European chemical assets, has acquired the European Advanced Organics business of Valtris Specialty Chemicals.
OCSiAl has opened its first European graphene nanotubes facility in Serbia. It will produce 60 tonnes/year under the Tuball band and the company plans to double this by launching a second synthesis unit within the next year. The modular design means it is able to scale production rapidly.
At its latest Capital Markets Day, Merck KGaA said that it is “in a strong strategic position” to profit from medium-term growth opportunities in all three of its business sectors after a transitional year in 2023.
Posco Future M has conducted the initial shipment of products from its 30,000 tonnes/year nickel-cobalt-aluminium (NCA) cathode material plant in Pohang, South Korea.
Mining giant Rio Tinto has agreed to acquire Arcadium Lithium, the company created by the merger of Livent and Allkem in January, for $5.85/share, which represents a 90% premium to Arcadium’s share price before the deal was announced. The offer values the firm at about $6.7 billion.
Chemours has opened Chemours Battery Innovation Centre (CBIC) at the Chemours Discovery Hub in Newark, Delaware. CBIC will support the testing and scaling of next-generation lithium-ion battery technologies to produce batteries for hybrid and electric vehicles.
