Samsung SDI & EcoPro BM form JV
The battery cell manufacturer Samsung SDI and their supplier of battery materials EcoPro BM are jointly investing the equivalent of around 97 million US dollars in a joint venture that the two South Korean companies have called EcoPro EM.
Samsung SDI holds 40 per cent of the joint venture company and EcoPro BM 60 per cent. Construction of a factory in the city of Pohang will start this year where cathode material for NCA cells will be produced from the first quarter of 2022.
Samsung SDI and EcoPro BM will invest a total 12o won, which is around 96.9 million USD into the joint venture Eco Pro EM, of which EcoPro BM will carry the lion’s share with 72 billion won.
EcoPro BM intends to increase its production capacity for cathode materials, including the joint venture, by 150,000 tonnes to 180,000 tonnes by 2023. The two main product lines currently offered by EcoPro BM are its NCA series (Ni-rich), and advanced NCM.
Korean battery cell manufacturers have recently been able to significantly increase their global market shares. In an analysis published in April by SNE Research, the Koreans together accounted for more than 40 per cent, with LG Chem (29.6 per cent) significantly larger than Samsung SDI (6.5 per cent) and SK Innovation (5.9 per cent).
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