Tesla’s 6th Cybertruck Recall Ignites Safety Concerns with Drive Power Loss Affecting Thousands 
Ireland’s Surplus Soars as Apple Back-Tax Windfall Fuels Fiscal Transformation: ‘Unprecedented Revenue Boom' 
Tesla’s $387 Price Target Shocks Wall Street as RBC Predicts an AV Takeover 
Shiba Inu’s Shocking 4 Trillion Transfer Triggers Golden Cross and 6% Price Rebound 
Corporate Giants Rekindle Ties With X, Leaving Critics Questioning 'Ethical Advertising Standards' in Shocking Comeback 
Upbit Under Fire: South Korea Investigates 600K KYC Violations Amid License Renewal Battle 
Bank of Mexico Slashes Key Interest Rate Again, Signaling More Cuts on the Horizon ‘If Conditions Allow’ 
Restricting cars in cities: a cost-benefit analysis of Low Emission Zones 
Dogecoin Ignites New Interest: Justin Sun Praises DOGE Growth as Foundation Launches Game-Changing Dogebox 
AMD Cuts 1,000 Jobs Amid Declining Gaming Sales and Lower-than-Expected Revenue Outlook for Q4 
Donald Trump’s Potential iPhone Tariff Bombshell: Jefferies Warns of a ‘$256 Price Hike Nightmare’ 
Wall Street Chaos: Fed Signals Slower Rate Cuts as Trump’s Cabinet Picks Fuel Market Panic 
Trump Media Shake-Up: Key Shareholder Dumps Nearly Entire Stake Amid Controversial Legal Battle—'What’s Next for Truth Social?' 
BYD Aims to Rival Tesla in South Korea’s Electric Vehicle Market with 2025 Launch 
Are 90-Second Eye Exam Kiosks the Future of Vision Testing? 
POSCO Chemical inked a six-year deal with Ultium Cells LLC, the US-based company that was established via the joint venture between General Motors and LG Energy Solution. The contract is for the supply of synthetic graphite anode materials.
POSCO Chemical’s deal with the GM-LGES joint venture firm is said to be worth $688.6 million, and this was announced by the company on Monday, Dec. 5. The agreement involves large-scale delivery of artificial graphite anode material to Ultium Cells to help expand the battery cell production for electric vehicles in the United States.
As per The Korea Herald, the agreement came just a year after the chemical arm of the POSCO Group completed the construction of its plant in Pohang, located in North Gyeongsang Province. It was built to localize the manufacturing of artificial graphite anode materials. Before the Pohang plant was built, the said raw materials were mostly produced in China.
LGES and General Motors launched Ultium Cells LLC battery cell production earlier this year in Ohio. it was established to support the latter’s expanding portfolio of EVs. The companies are also opening a second plant in Tennessee next year while a third one is being constructed in Michigan.
Based on the regulatory filing, the South Korean chemical company will start the battery supply of key materials for battery production in 2023 and will continue until the last quarter of 2028. Artificial graphite anode materials are the main components used in making EV batteries and offer faster recharging speed. This can also prolong battery life.
“The six-year, KRW 939.3 billion agreement calls for artificial graphite anode materials produced at the Pohang plant to be supplied to Ultium Cells, a battery joint venture between General Motors and LG Energy Solution,” POSCO Chemical stated in a press release.
"As the only anode materials company in Korea, we have set up a complete value chain from raw materials to materials production, and our business competitiveness through the expansion of our product portfolio has led to securing a contract," the company’s chief executive officer, Min Kyung Zoon said in a separate statement.
He added, "Based on our stand-alone technology and competitiveness in raw materials, we will push for expanding global customers and become a global top-tier battery materials company by fostering the anode and cathode materials businesses in a balanced way."
