POSCO bets on battery materials even as EV demand slows

South Korean conglomerate racing to catch up with local and Chinese rivals

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POSCO Pilbara Lithium Solution, a unit of South Korea's top steelmaker, is betting on EV battery materials despite a slump in demand for electric cars. (POSCO Holdings)

KIM JAEWON, Nikkei staff writer

GWANGYANG, South Korea -- The mound of gray spodumene at POSCO Pilbara Lithium Solution's warehouse in the South Korean port city of Gwangyang looks just like a massive pile of sand. But locked within the grains of the unprepossessing heap lies a key ingredient for making electric vehicle batteries.

"We get lithium hydroxide from spodumene by putting it through chemical processes," said Son Hong-rok, a manager at the joint venture between South Korea's POSCO Holdings and Australian miner Pilbara Minerals.

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