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    A003670   KR7003670007

POSCO CHEMICAL CO., LTD.

(A003670)
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

GM, Posco JV Will Produce Battery Materials

12/01/2021 | 11:37am EST

By Stephen Nakrosis

General Motors Co. said Wednesday it was forming a joint venture to produce battery materials.

The auto maker said it will join with Posco Chemical to build a factory in North America that would "process critical battery materials for GM's Ultium electric vehicle platform." The location of the factory, which is expected to open in 2024, will be announced at a later date, the companies said.

The companies signed a non-binding term sheet to create the JV "and expect to execute definitive agreements soon," they said.

GM said the new facility will supply the Ultium Cells LLC facilities it is building in Ohio and Tennessee with LG Energy Solution. Two more U.S.-based Ultium cell plants are planned by the middle of the decade, GM added.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

12-01-21 1137ET

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY -0.65% 52.35 Delayed Quote.-10.22%
POSCO CHEMICAL CO., LTD. -3.23% 120000 End-of-day quote.-16.67%
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More news
Financials
Sales 2021 1 990 B 1,66 B 1,66 B
Net income 2021 144 B 0,12 B 0,12 B
Net cash 2021 27,3 B 0,02 B 0,02 B
P/E ratio 2021 64,1x
Yield 2021 0,29%
Capitalization 9 296 B 7 762 M 7 762 M
EV / Sales 2021 4,66x
EV / Sales 2022 3,79x
Nbr of Employees 1 684
Free-Float 34,9%
Chart POSCO CHEMICAL CO., LTD.
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Posco Chemical Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends POSCO CHEMICAL CO., LTD.
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 120 000,00 KRW
Average target price 185 315,79 KRW
Spread / Average Target 54,4%
EPS Revisions
Managers and Directors
Kyung-Joon Min Chief Executive Officer & Director
Won-Hee Kim Managing Director, Head-Planning & Finance
Han-Nam Jung Managing Director & Head-Technology Research
Gye-Hyun Yoo Independent Director
Young-Soon Jeon Independent Director
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