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Jul 29

Hankook Acquires Stake in EV Battery Materials Company

Hankook & Company, the holding company of tyre manufacturer Hankook Tire & Technology, announced it made its first foray into the electric vehicle (EV) battery supply chain by investing in domestic battery materials producer JR Energy Solution.

Hankook said it made a KRW9bn (US$6.5bn) Series A investment in the battery electrode foundry company located in Chungcheongbuk-do 100km south west of Seoul. The investment made Hankook the company’s third largest shareholder with a stake of just over 15%. …

Source: Yahoo!

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