SEOUL (Reuters – South Korea) POSCO Chemical Co Ltd announced Friday that it will invest $633 million in Canada’s battery cathode material plant with General Motors Co (NYSE)

In a regulatory filing, the South Korean materials manufacturer stated that $278 million will be invested in joint venture plants with GM between September 2024 and September 2024.

The two companies made public their intentions to create a North American joint venture in December.

($1 = 1,254.9900 won)