POSCO Future M secures W1.8 tril.-deal for EV battery material supply
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POSCO Future M Co., the battery materials unit of POSCO Holdings Inc., said Wednesday it has secured a 1.8 trillion-won ($1.3 billion) deal to supply high-nickel cathode materials for electric vehicle batteries.
The Korean company did not elaborate on the details of the deal in accordance with a confidentiality agreement with its client, according to its officials.
The value of the deal accounted for 38.8 percent of POSCO Future M's annual sales for last year. (Yonhap)