EcoPro BM, a battery material subsidiary of EcoPro, recently closed a deal with Samsung SDI to supply cathode-active materials worth 43.8 trillion won ($33.5 billion) between 2024 and 2028. According to EcoPro, the cathode is based on nickel-cobalt-aluminum chemistry and is used for high-nickel EV batteries.
Samsung is currently planning two battery plants with Stellantis NV in Kokomo, Indiana, and has a plant in Hungary. EcoPro plans to ship battery materials to Samsung from its Debrecen, Hungary plant once in production in 2025. Until then, EcoPro will supply materials from its Pohang, North Gyeongsang Province facility, starting this year in 2024.
Ecopro plans for 710,000 tons of cathodes by 2027, including 180,000 tons now solely from South Korea. Aside from the new plant in Hungary, it’s also building another facility in Quebec, Canada with SK On Co. and the Ford Motor Company.
Filed Under: Technology News