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