POSCO Chemical and Samsung SDI agree 10-year NCA cathode supply deal

POSCO Chemical and Samsung SDI agree 10-year NCA cathode supply deal

South Korean companies POSCO Chemicals Company and Samsung SDI have agreed a localised supply agreement for key materials used in EV batteries. The USD32.6 billion deal will see POSCO supplying NCA cathodes to Samsung SDI from later this year up to 2032. The new supply agreement is the largest that POSCO has entered to date, both in terms of time and value, and is also the first deal between the two companies.

POSCO Chemicals is planning to increase its production capacity in the near future with the completion of…

 

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Mercedes-Benz and Volkswagen secure Canadian battery materials

Mercedes-Benz and Volkswagen secure Canadian battery materials

 

German auto manufacturers Mercedes-Benz and Volkswagen have signed memorandums of understanding with the Canadian federal government to secure access to the country’s large reserves of raw materials. The agreements will open opportunities to capitalise on lithium, nickel, cobalt and other mineral deposits needed for electric vehicle battery production located predominantly in northern parts of Ontario and Quebec.

Volkswagen is targeting collaboration between the Canadian mining sector and its newly formed battery company PowerCo with a focus on…

 

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Image Credit: Mercedes-Benz