EcoPro BM to spend 134 billion won to expand cathode factory
CAM5-N dedicated to SK Innovation
EcoPro BM will spend 134 billion won to expand one of its cathode factories dedicated to SK Innovation.
EcoPro BM said Wednesday that it will be expanding its CAM5-N factory by January 2023.
The expansion will have the factory secure an annual production capacity of 28,800 metric tonnes. The factory will have two NCM (nickel, cobalt and manganese) lines when completed.
EcoPro BM signed a deal wroth 2.7 trillion won to supply high-nickel NCM cathode to SK Innovation for use in electric car batteries by 2023.
The South Korean material company is planning secure an annual production capacity of 180,000 metric tonnes a year in high-nickel cathodes.
Meanwhile, EcoPro HN, which split off from parent firm EcoPro, will resume trading on Friday.
HN was formed to conduct environment businesses.