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Ionway, a joint venture between Umicore and the Volkswagen battery manufacturing subsidiary PowerCo, plans to build a $1.8 billion cathode material plant in Poland. The facility will be next to an existing Umicore cathode plant. The partners hope to achieve 160 GW h of annual battery material production—enough for 2.2 million car batteries—by the end of the decade. They also hope to build a plant for cathode precursors but haven’t announced a location.
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