No doubt about it, the Asian supply chain confirmations are sure going gangbusters! Only a day after announcing the 6 year supply deal with SK Innovation, Ecopro has entered another deal with Samsung SDI for another 70,000 tons/annum of cathode material!
AUZ had better hurry up with that Plan B!
Ecoprom to make joint venture with Samsung SDI
- By Lee Soo Hwan
- Approval 2020.02.06 15:07
- Comments 0
Samsung SDI plans to secure high-performance cathode materials
Samsung SDI has decided to establish a joint venture with Korea's mid-sized battery cathode material company, EcoProbe. The intention is to reliably secure key raw material suppliers for EV production. EcoproMB, which recently signed a long-term supply contract for cathode materials with SK Innovation, has laid the foundation for stable long-term growth by mixing blood with Samsung SDI.
Ecoprom Ochang Headquarters Image
According to the industry on the 6th, Ecoprobem will soon establish a battery cathode material joint venture with Samsung SDI. As early as next week, we will make an official announcement. The joint venture between the two companies will establish a new plant (CAM6) in Pohang to produce nickel, cobalt and aluminum (NCA) high nickel cathode materials with a nickel content of over 80%. No equity ratio was reported. It is reported that the two companies will be taken at an equal level.
The production capacity of the CAM6 plant, which will be called the Samsung SDI cathode material line, is estimated to be 70,000 tons annually. Expert estimates show that annual production shipments could reach about 1 trillion won at 70,000 tons per year. It is nearly three times the production capacity of CAM5 (26,000 tons annually), which was completed last year. Ecoprobem invested KRW 180 billion to build the plant.
Initially, Ecoprom and Samsung SDI discussed simple investment plans. It was drawing money by handing the amount of cathode material to be produced at the new CAM6 plant for Samsung SDI. However, the situation changed as Samsung SDI recently increased the amount of cathode material used in Hungary's Goed Battery 2 plant.
An industry official said, "It is difficult to make a joint venture, not a simple supply contract, unless it is a long-term relationship."
Cathode materials are categorized into four battery materials along with anode materials, electrolytes and separators. It is a key raw material that accounts for more than 40% of battery manufacturing costs. Ecopromme previously signed a supply contract with SK Innovation to supply cathode materials worth KRW 2.76 trillion over the next four years
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