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Posco seeks growth catalyst with China battery materials tie-up

South Korean steelmaker wants to cash in on the rise of electric vehicles

Posco, headquartered here in Seoul, wants batteries to be a bigger part of its business.   © Reuters

SEOUL -- In a move to make its battery-related operations a major part of its business, South Korean steelmaker Posco is forming a partnership in China with Zhejiang Huayou Cobalt to produce cathode materials used in lithium-ion batteries.

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