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EcoProBM President and CEO Kwon Woo-seuk (EcoProBM) |
EcoProBM, an electric vehicle battery material supplier for Samsung SDI and SK On, said Thursday it will build a cathode plant in Hungary worth 970 billion won ($825 million).
The Hungarian plant, which is to be EcoProBM’s first overseas investment, will churn out 108,000 tons of cathode material per year once it goes fully operational in the second half of 2025. The production output would be enough to produce batteries for 1.35 million electric vehicles, the company said.
Cathodes are the positive electrodes of batteries. Their properties decide how powerful the batteries can become and represent roughly 40 percent of battery costs. The more nickel inside cathodes, the more power output they have.
EcoProBM manufactures high-nickel cathodes that go inside the powerful, premium batteries of Samsung SDI and SK On. Samsung SDI and SK On both have battery factories located in Hungary.
The firm aims to invest 2.8 trillion won in Korea, North America and Europe by 2026 to secure total production capacity of 480,000 tons of cathode materials per year.
By Kim Byung-wook (
kbw@heraldcorp.com)
