Toyota Buys Stake in LG-Huayou Battery Venture to Meet IRA Compliance

Post Views: 350 Toyota Tsusho Toyota’s Stake in LG-Huayou Venture Secures Cathode Material Access Toyota Tsusho, the trading arm of Japan’s Toyota Group, acquired a 25% stake in a cathode material joint venture. This venture is between China’s Huayou Cobalt and South Korea’s LG Chem. The $1.21 billion deal changes ownership of the 66,000 t/yr CAM plant in Gumi, South Korea. Huayou reduces its stake from 49% to 24%, while LG Chem keeps 51%. This strategic move ensures the venture meets the Inflation Reduction Act (IRA) rules. It lowers Huayou’s share below the 25% limit for Pr...