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Hyundai and POSCO Join Forces for Electric Vehicle Supply Chain

4/22/2025

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Summary

Story summary

Hyundai Motor Group and POSCO Group signed a Memorandum of Understanding on April 21, 2025, in Seoul.
The partnership aims to boost global competitiveness and ensure stable supplies for mobility operations.
POSCO will invest in Hyundai's electric furnace steel mill in Louisiana, facilitating North American market entry.
Both companies will collaborate on lithium and cathode materials for secondary batteries, enhancing supply chain stability.
This agreement supports Hyundai's target of selling 3.26 million electric vehicles annually by 2030.

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Story summary

Hyundai Motor Group and POSCO Group signed a Memorandum of Understanding on April 21, 2025, in Seoul.
The partnership aims to boost global competitiveness and ensure stable supplies for mobility operations.
POSCO will invest in Hyundai's electric furnace steel mill in Louisiana, facilitating North American market entry.
Both companies will collaborate on lithium and cathode materials for secondary batteries, enhancing supply chain stability.
This agreement supports Hyundai's target of selling 3.26 million electric vehicles annually by 2030.