General Motors announced a joint venture alongside POSCO Chemical to erect a new factory in North America to process Cathode Active Material (CAM). CAM will be vital to GM’s production of its proprietary Ultium EV batteries, as the legacy automaker looks to establish a larger presence in US EV production.Expand Expanding Close
Tesla Model 3 to reportedly get its steel from South Korea’s POSCO, Tesla denies agreement [Updated]
South Korea’s POSCO, one of the biggest steel-making company in the world, has reportedly signed an important memorandum of understanding (MOU) to supply Tesla’s Model 3 program with steel for the upcoming vehicle’s A pillars, which support both sides of the front windshield. and potentially more parts to come.
Update: Tesla denies having signed a MOU. A spokesperson said: “We have not signed an MOU with POSCO”.
Update 2: POSCO now also denies an MOU agreement with Tesla.