LG Energy Solution and POSCO Holdings will enhance cooperation in the rechargeable battery business.
POSCO Holdings and LG Energy Solution exchanged an MOU for strategic business cooperation in secondary battery materials at PARC1 in Yeouido, Seoul on the 7th. The chairman of POSCO group, Jeong-woo Choi, and the vice chairman of LG Energy Solution, Young-soo Kwon attended the signing ceremony.
As global supply chain issues such as the US Inflation Reduction Act (IRA) rapidly becomes pending issues, both companies are enhancing their cooperative relationship throughout the rechargeable battery business. They will cooperate in all areas of the secondary battery value chain, including supply of lithium, and anode•cathode materials, recycling, and next-generation materials.
Chairman Choi said, “Through cooperation with the POSCO Group and the LG Energy Solution, we will be able to further enhance the competitiveness of the global battery industry. I wish that both companies will grow to become companies that last for the next 100 years.”
Vice chairman Kwon said, “The cooperation between LG Energy Solution and POSCO Group will enable us to maintain competitiveness in the midst of various issues including the IRA in the US. With the goal of becoming the best in the world, both companies’ cooperation will shake up the secondary battery business that no one has ever expected of.”
By Staff Reporter Ji-woong Kim (jw0316@etnews.com)