EcoPro Bm signed a USD 34 billion contract to supply NCA (lithium nickel-cobalt-aluminium oxide) cathodes used in manufacturing EV batteries to Samsung SDI for five years (2024-2028). The Cheongju-based EcoPro’s cathode materials will be supplied to Samsung’s plants in South Korea and abroad.

Despite the slump in the EV sector due to high interest rates and less demand, in South Korea, there is significant growth in the battery manufacturing sector. The restrictions imposed by the US administration on China have created opportunities for South Korean energy storage market.

Additionally, Samsung SDI, in a joint venture with Stellantis NV, is setting up a lithium-ion manufacturing plant in the US and Hungary.

Find upcoming Lithium-ion Projects and tenders in South KoreaGet Started Now!

Samsung SDI and EcoPro BM have had a long-term supply partnership since 2021. EcoPro BM has supplied around 200,000 tonnes of NCA cathode material until 2023. Furthermore, EcoPro BM CEO Joo Jae-hwan stated that the trust-based partnership is playing a crucial role in strengthening South Korea's battery industry.

For 2024, the NCA cathode materials will be supplied from EcoPro’s Pohang cathode battery complex. EcoPro, in collaboration with Ford Motor Company and SK Innovation, is constructing a factory in Hungary and Canada. The 429,752-square-meter factory unit in Hungary will start production by 2025.

Once operational, this plant will supply about 108,000 tonnes of NCA cathode material. Ecopro targets to produce around 710,000 tonnes of cathode material by 2027.

About Samsung SDI

Samsung SDI, a leading South Korean company, is a global powerhouse in the battery and electronic materials industry. Founded in 1970 and headquartered in Yongin, South Korea, they've been powering our world for over five decades. Samsung SDI is committed to shaping a sustainable future through its innovative battery solutions.

It is actively involved in the research and development of next-generation technologies, including solid-state batteries and lithium-sulfur batteries, which promise even greater performance and efficiency. Samsung SDI is currently constructing two lithium-ion battery manufacturing plants:

Stellantis and Samsung SDI Battery Plant in Indiana, USA

A Joint Venture between Stellantis and Samsung SDI (announced in May 2022) decided to invest over USD 2.5 billion in a lithium Ion production plant in the United States. This plant is expected to start production in 2025 with an initial annual capacity of 23 GWh, which will be ramped up to 33 GWh in the following years. The plant will utilize Samsung SDI's cutting-edge PRiMX technology to produce EV battery cells and modules for the North American market.

Samsung SDI Battery Plant in Hungary

This plant is located in Göd, Hungary, and has an annual production capacity of 45 GWh. It commenced operations in 2022 and supplies battery cells to European automakers. 

Find upcoming Lithium-ion
Projects and tenders in the US  Get Started Now!

About EcoPro BM

EcoPro BM is a South Korean company specializing in the development and production of cathode materials for lithium-ion batteries. It was spun off from its parent company, EcoPro, in May 2016 to focus on the rapidly growing battery materials market.  The company's vision is to become a core material company that makes Korea the leader of the next-generation battery market. 

They are committed to developing and supplying high-quality, eco-friendly cathode materials that will help reduce greenhouse gas emissions and create a more sustainable future.  Here are some of the key products and technologies that ECO PRO BM offers:

• High-nickel cathode materials: These materials offer high energy density and long cycle life, making them ideal for use in EVs and ESS.
• Lithium cobalt oxide (LCO): This is a traditional cathode material that is still widely used in portable electronics.
• Lithium manganese oxide (LMO): This is a lower-cost alternative to LCO, but it has a lower energy density.
• NCA cathode materials: These materials offer a good balance of performance and cost.

EcoPro BM is currently constructing two plants, which include:
 

• NCA Plant in Hungary: EcoPro BM is currently building a new plant in Debrecen, Hungary. This plant is expected to be operational in 2025 and will produce 108,000 metric tons of cathode materials per year. This will be their first plant outside of Korea.
• NCA plant in Canada: EcoPro BM is also planning to build a plant in Ontario, Canada. This plant is expected to be operational in 2026 and will produce 45,000 metric tons of cathode materials per year. This will be their first plant in North America.

Discover the Latest Lithium-ion Battery Manufacturing Plant Projects with Ease

Are you looking for a platform that gives you reliable, high-quality, and timely project insights for the latest lithium-ion Battery Manufacturing Plant Projects in South Korea?

Discover the Global Project Tracking (GPT) platform by Blackridge Research, designed to provide you with the most recent updates regarding  lithium-ion Battery Manufacturing Plant Projects  in South Korea and faster across various stages of development:

• Upcoming projects
• Tender Notices
• Contract award announcements
• Projects in progress or under construction
• Successfully completed projects.

The user-friendly interface helps you obtain early-stage awareness of projects and find the right business opportunity quickly.

With its user-friendly interface, this platform empowers you to gain early-stage awareness of projects and swiftly identify the right business opportunities.

Each project will have all the essential details, such as scope, capacity, CapEx, status, project description, companies involved, funding information, location, periodic updates, important event dates like construction start date, commissioning dates, and key contact information of project owners and stakeholders.

The database is a vital resource for a wide range of entities, including energy storage companies, battery companies, facility operation and maintenance (O&M) companies, consulting and advisory firms, investors, investment firms, project finance agencies, research and development organizations, regulatory bodies, and law firms.

Book a Free demo to learn more about the Green Hydrogen (H2) Generation/Production Plant Projects and Tenders database and how we can help you achieve your goals.