South Korea’s POSCO, the sixth-largest steelmaking company in the world and Japan’s Honda Motor signed a comprehensive memorandum of understanding (MOU) on Tuesday. This partnership is to expand cooperation in the electric vehicle (EV) industry.
Prior to this, Posco was understood to have agreed in principle to a contract last year with a duration of at least five years with Ford. This contract is only for the supply of cathode materials and other key EV battery minerals, including lithium and nickel.
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