POSCO FUTURE M

Posco Future M CEO Eom Gi-chen on Monday vowed to capture over 7.4 trillion won ($5 billion) in sales revenue by 2027, leveraging the electric vehicle supply chain’s decreasing reliance on China.

Posco Future M said Tuesday it plans to invest 489.4 billion won ($342 million) into Ultium Chem, its cathode materials joint venture with General Motors in Quebec, Canada, despite a slowdown in electric vehicle demand exacerbated by ongoing trade disruptions in North America.

POSCO Future M said Monday that it recently received awards from the trade, environment and labor ministries for its efforts to promote exports, protect the environment and prevent workplace accidents.