Ford, GM in Talks With Posco Chemical on Battery Metal Hubs
- Posco eyeing North America sites to comply with Biden rules
- Shift to EVs has made battery metals competitive battleground
A Posco Chemical Co. battery pack for electric vehicle displayed at the InterBattery exhibition in Seoul, earlier in March
Photographer: SeongJoon Cho/BloombergFord Motor Co., General Motors Co., and Stellantis NV are in talks with South Korea’s Posco Chemical Co. about potentially investing in plants producing electric-vehicle battery materials in North America, according to people familiar with the matter.
The factories would make cathode-active or anode materials -- key ingredients for determining the energy density of lithium-ion batteries used in cars -- said the people, asking not to be identified because the discussions are private. The talks are preliminary and may not necessarily lead to a deal, according to the people. Posco Chemical is also talking to other automakers about similar investments, they added.