Hyundai weighs stake in Posco Future M’s Vietnam anode plant
The proposed equity investment is worth 100 billion won, while commercial production at the Thai Nguyen facility is scheduled for the fourth quarter of 2028.
Hyundai Motor Group is considering a 100 billion won (US$74.4 million) equity investment in Posco Future M’s battery anode factory in Vietnam. Posco Future M said on November 3 that the companies had signed a letter of intent to explore the investment.
According to The Korea Herald, Hyundai would seek preferential purchasing rights for synthetic graphite anode materials alongside a possible stake. The companies also plan to work together on initial product development and quality testing for materials intended for Hyundai’s electric vehicles.
The companies will seek to finalise agreements covering investment and procurement. Posco Future M expects the proposed partnership to accelerate construction of its overseas facility and give Hyundai a more stable source of battery materials.
Authorities in Thai Nguyen granted investment and enterprise registrations for the Song Cong II Industrial Park project on April 23. Production is scheduled to begin in the fourth quarter of 2028, with anticipated annual output of up to 46,000 tonnes of artificial graphite and revenue exceeding US$150 million a year.
Posco Future M has secured orders for the first phase and is considering a second phase to increase production.
