Korea's Posco Chemical Bags $33B EV Deal From Samsung SDI

Posco Chemical won a 40 trillion won ($32.60 billion) order from Samsung SDI Co Ltd (OTC:SSDIY) to supply cathode materials for electric vehicle batteries between 2023 and 2032, Reuters reports.
Last December, LG Energy Solution Ltd shared plans to invest 4 trillion won ($3.1 billion) from this year through 2026 for a battery facility in South Korea.
The battery facility will produce batteries for electric vehicles and other goods.
The production facility, located in Ochang, South Korea, will also have a Research and Development center and will likely provide 1,800 jobs.
Chinese and South Korean companies dominate EV battery manufacturing.
In 2022, Tesla Inc’s (NASDAQ: TSLA) battery supplier Contemporary Amperex Technology Co. Limited, or CATL, had the highest share in the EV battery market.