Tuesday, September 21, 2021

SK Innovation signs an agreement with Ecopro Group to preoccupy the high-performance battery market - Korea IT Times

Last updated Sunday, September 12, 2021 05:50 ET , Source: NewsService

September 8, SK Innovation signed a large-scale purchase agreement with Korea’s top cathode materials manufacturer Ecopro BM at SK Seorin Building in Seoul, Korea to be supplied with KRW 10 trillion worth of cathode materials from 2024 to 2026.

The company also agreed to cooperate with Ecopro BM and its holding company Ecopro in all directions in the field of cathode materials to strengthen its competitiveness.

The agreement ceremony was attended by President of SK Innovation’s Battery Business Jee Dong-seob, Head of SK Innovation’s Battery Material Procurement Center Shin Yeong-kee, Chairman of Ecopro Lee Dong-che, and President of Ecopro BM Kwon Woo-seok to discuss ways to enhance cooperation.

The parties made a deal to cooperate in various areas in the future including making joint investments in material businesses related to cathode materials, building plants home and abroad, and recycling waste batteries.

Together with Ecopro Group, one of its key partners in materials business, SK Innovation plans to lead the high-performance battery cathode material market, as the demand for it is expected to skyrocket. The company aims to go beyond just stabilizing cathode materials supply and secure competitiveness in the materials industry through cooperation.

The cathode material is a core material that determines the battery performance, and it accounts for almost 50% of the battery cell production cost. Ecopro BM is a leader in the field of high-nickel cathode materials used...

Read Full Story: http://www.koreaittimes.com/news/articleView.html?idxno=108349

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