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    A005490   KR7005490008

POSCO HOLDINGS INC.

(A005490)
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End-of-day quote Korea Stock Exchange  -  2022-08-11
259500.00 KRW   +0.97%
08/12POSCO : Retirement of Stocks - Form 6-K
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08/12POSCO : 2Q 2022 Dividend and Cancellation of Treasury Shares Merger of POSCO International & POSCO Energy - Form 6-K
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08/12POSCO : Resolution on Cash Dividend Payment - Form 6-K
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Britishvolt signs deal with Posco Chemical for battery materials

06/29/2022 | 07:07pm EDT
FILE PHOTO: Britishvolt executive chairman Peter Rolton at the site of the company's planned battery plant, in Blyth

LONDON (Reuters) - Electric vehicle (EV) battery startup Britishvolt has signed a deal with South Korean battery materials firm Posco Chemical designed to secure the supply of cathode and anode materials, the two companies said on Thursday.

The two companies have signed a memorandum of understanding and are working on a longer-term agreement, which "paves the way to providing Britishvolt with a secure supply of active battery materials as we start to ramp up pilot production", Britishvolt chief executive Orral Nadjari said in a statement.

Britishvolt said Posco's ownership of mines and processing facilities across the battery sector would ensure "end-to-end, stable, supply chain supply".

Earlier this year, Posco and U.S. carmaker General Motors announced they would jointly build a $400 million plant to produce cathode materials that will be able to supply 1 million EVs in North America by 2025.

Major carmakers have been racing to secure battery cell supplies, but finding enough battery raw materials may be a bigger problem.

Failure to obtain adequate supplies of lithium, nickel, manganese or cobalt could slow the shift to EVs, make those vehicles more expensive and threaten carmakers' profit margins.

Stellantis CEO Carlos Tavares said last month he expected a shortage of EV batteries would hit the auto industry in 2024-2025 as manufacturers try to ramp up EV sales while still building new battery factories.

Britishvolt is working with British sports carmakers Aston Martin and Lotus to develop high-performance EV batteries.

The startup has secured UK government backing for a battery plant project in northern England, unlocking 1.7 billion pounds ($2.1 billion) in private funding.

($1 = 0.8224 pounds)

(Reporting by Nick Carey; Editing by Mark Potter)

By Nick Carey


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ASTON MARTIN LAGONDA GLOBAL HOLDINGS PLC 0.67% 544.2 Delayed Quote.-59.78%
GENERAL MOTORS COMPANY 2.65% 39.48 Delayed Quote.-32.66%
GOLD 0.73% 1801.97 Delayed Quote.-2.20%
POSCO CHEMICAL CO., LTD. -0.31% 160000 End-of-day quote.11.11%
POSCO HOLDINGS INC. 0.97% 259500 End-of-day quote.-5.46%
S&P GSCI GOLD INDEX 0.46% 1057 Real-time Quote.-1.17%
SILVER 2.55% 20.786 Delayed Quote.-12.98%
STELLANTIS N.V. 0.99% 14.832 Delayed Quote.-11.99%
STELLANTIS N.V. 1.10% 14.842 Real-time Quote.-11.01%
All news about POSCO HOLDINGS INC.
08/12POSCO : Retirement of Stocks - Form 6-K
PU
08/12POSCO : 2Q 2022 Dividend and Cancellation of Treasury Shares Merger of POSCO International..
PU
08/12POSCO : Resolution on Cash Dividend Payment - Form 6-K
PU
08/12POSCO : Adjustment of Conversion Price, Exercise Price of Preemptive Rights, and Exchange ..
PU
08/12POSCO : Decision on Merger (Material Business Matters of Subsidiary Company) - Form 6-K
PU
08/12POSCO : Occurrence of Causes for Subsidiary's Dissolution - Form 6-K
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08/12POSCO : PosMAC roadside tree guard in Vietnam
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08/10Posco's Senex to go ahead with $708 million Australian gas expansion
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08/04Indonesian GDP growth accelerates in Q2, beats forecast
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07/31Posco Raises $1 Billion Through Sale of Overseas Debt
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Financials
Sales 2022 88 375 B 67,7 B 67,7 B
Net income 2022 5 296 B 4,06 B 4,06 B
Net Debt 2022 2 949 B 2,26 B 2,26 B
P/E ratio 2022 4,01x
Yield 2022 6,14%
Capitalization 19 582 B 15 010 M 15 010 M
EV / Sales 2022 0,25x
EV / Sales 2023 0,22x
Nbr of Employees -
Free-Float 85,5%
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Number of Analysts 21
Last Close Price 259 500,00 KRW
Average target price 369 904,76 KRW
Spread / Average Target 42,5%
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Managers and Directors
Jeong-Woo Choi Chairman & Co-Chief Executive Officer
In-Hwa Chang Co-President, Co-CEO & Director
Jung-Son Chon Co-Chief Executive Officer & Director
Seung-Kyu Lim Senior Managing Director & Head-Finance
Seong-Wook Lee Head-Legal & Compliance Support
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