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[Alpha Biz=(Chicago) Reporter Kim Jisun] POSCO Group and Japanese automaker Honda have agreed to cooperate in procurement and recycling of electric vehicle (EV) battery materials.
According to POSCO Group and Kyodo News on the 12th, POSCO Group Chairman Choi Jung-woo and Honda President Mibe Toshihiro signed a comprehensive memorandum of understanding (MOU) on the electric vehicle business at POSCO Center in Gangnam-gu, Seoul the previous day.
As demand for electric vehicles is expected to surge globally, the two companies decided to discuss and consider ways to newly cooperate in areas such as positive and cathode materials, all-solid battery materials, and recycling (recycling) in the secondary battery materials sector.
With regard to all-solid battery materials, joint technology development will be promoted through regular exchanges in the business and technology fields.
In the recycling sector, Honda's electric vehicle business and POSCO Group's global recycling business will be linked in the future.
The two companies will also consider drawing up a joint response system based on POSCO Group's secondary battery business capabilities and Honda's strategy to expand its mid- to long-term global electric vehicle business to cope with the U.S. Inflation Reduction Act (IRA) and the European Core Raw Materials Act (CRMA).
POSCO Group aims to produce and sell 610,000 tons of anode materials, 320,000 tons of cathode materials, 300,000 tons of lithium and 220,000 tons of nickel by 2030, and achieve 41 trillion won in sales in the secondary battery material business alone.
Honda plans to invest a total of $ 40 billion (about 52 trillion won) by 2030 to strengthen its competitiveness in electric vehicles.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
