POSCO Future M says Hyundai Motor to consider investment in Vietnam project
Letter of intent would grant priority purchase rights for artificial graphite anode materials
Quick Look
Hyundai Motor Group will consider investing 100 billion won ($74.5 million) in POSCO Future M's artificial graphite anode material plant in Vietnam under a letter of intent, securing priority purchase rights for battery materials amid concentrated global supply.
AI-generated summary
Why It Matters
POSCO Future M is the battery materials unit of POSCO Holdings Inc., South Korea's leading steelmaker. The Vietnam project will be its first overseas production base for artificial graphite anode materials, following Vietnamese authorities' approval. In March, POSCO Future M signed a 1.01 trillion-won deal to supply artificial graphite anode materials to a global automaker.
SEOUL, Nov. 3 (Yonhap) -- POSCO Future M Co. said Tuesday that Hyundai Motor Group will consider investing in its artificial graphite anode material plant in Vietnam and securing priority purchase rights.
Under a letter of intent (LOI) signed by the two companies, the South Korean automotive group will consider investing 100 billion won (US$74.5 million) in the second phase of the project in exchange for priority purchase rights, POSCO Future M said in a press release.
The LOI follows Vietnamese authorities' approval of POSCO Future M's project, which will mark its first overseas production base for the battery component.
With priority purchase rights, Hyundai Motor Group is expected to secure a stable supply of battery materials in global markets, the press release said.
The move comes amid growing demand for artificial graphite, a key material that improves a battery's fast-charging performance and lifespan. Supply, however, remains concentrated in a limited number of countries, underscoring the need to diversify sourcing.
In March, POSCO Future M signed a 1.01 trillion-won deal to supply artificial graphite anode materials to a global automaker.
POSCO Future M is the battery materials unit of the country's leading steelmaker, POSCO Holdings Inc.
What to Watch
AI outlook — possibilities, not facts
Hyundai Motor Group will finalize its investment decision in POSCO Future M's Vietnam plant second phase
Possible · Within months
Open Questions
- When will Hyundai Motor Group make a final investment decision?
- What is the timeline for the second phase of the Vietnam plant?
- Which global automaker was the March supply deal with?
![[Future Economy Forum] President Dae-il Hwang, “Korea-Japan solidarity is essential… It must become the core of the regional economic bloc”](/api/img?u=https%3A%2F%2Fimg.yna.co.kr%2Fphoto%2Fyna%2FYH%2F2026%2F11%2F03%2FPYH2026110312910001302_P2.jpg&w=320&q=72&f=webp)