[Alpha Biz=(Chicago) Reporter Paul Lee] POSCO Group (POSCO Holdings) Chairman Choi Jung-woo is known to meet with Jim Farley, CEO of U.S. automaker Ford. With Chairman Choi and CEO Farley meeting again in eight months, it is predicted that the secondary battery material business between POSCO Group and GM could gain momentum.

According to the business community on the 20th, Chairman Choi is scheduled to meet with CEO Farley at Ford headquarters in Michigan this week. CEO Farley held a closed-door meeting with Chairman Choi at POSCO Center in Seoul last October. An official of POSCO Group said, "It is difficult to disclose the specific schedule."

Chairman Choi will also visit the construction site of a bipolar material plant in Bécancour, Quebec, Canada, during his business trip to North America. POSCO FutureM has set up an anode material joint venture Ultimate Cam with U.S. automaker General Motors (GM) in July last year and is building a cathode material plant in Bécancour. When completed in 2024, up to 30,000 tons (t) of bipolar materials can be produced annually.

POSCO Future M also decided to invest about 1 trillion won in the second stage of the Ultimate Cam. Ultimate Cam plans to expand its anode material production plant with an annual capacity of 33,000 tons through the second stage investment and establish a precursor plant with an annual capacity of 45,000 tons.

 

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