Johnson Matthey invests in batteries

U.K. catalysts and specialty chemical firm Johnson Matthey says starting in 2018 it will invest up to $270 million to enhance its offering in battery materials for electric vehicles. The firm says it will invest in the production of cobalt, lithium, manganese, and nickel compounds used in cathodes for automotive batteries and have an initial capacity of 10,000 metric tons per year by 2021. The company is the leading producer of emission control catalysts for combustion engine vehicles. A growing number of firms say they plan to phase out combustion engines in favor of electric systems.