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Hungary.

Latest South Korean firm reveals plans for 108,000 tpy European lithium-ion battery cathode plant

Fri, 12/17/2021 - 10:04 -- Paul Crompton

South Korean firm EcoPro BM— the battery material business unit of Ecopro— is set to build a 108,000 tonnes per year lithium-ion cathode factory in Hungary.

The company plans to build a cathode factory in Hungary to supply the electric car battery market, Hungary's foreign minister Péter Szijjártó confirmed via Facebook, according to news outlet Reuters.

The 264 billion forints ($810 million) investment will see the first phase of the plant’s construction finished in the second half of 2024 in the town of Debrecen. 

The second phase will finish a year later.

Szijjártó is reported to have said the Hungarian government was providing an unannounced grant to EcoPro BM.

The grant total is expected to be announced after the European Commission is notified of the deal.

Hungary’s battery expansion

Last month, Korean firms Toray Industries and LG Chem concluded a joint venture agreement to create a lithium-ion battery separator firm in Hungary.

The agreement sets out plans to establish LG Toray Hungary Battery Separator Kft. (LTHS), in which Toray and LG Chem will each hold a 50% interest. 

Under this arrangement, LG Chem will invest $375 million (around ¥43 billion) in Toray Industries Hungary (THU), a 100% subsidiary of Toray engaged in the manufacture and sales of battery separator film.

The deal is due to be finalised next year, subject to fulfilling regulatory requirements.

In the past five years BEST has reported on a number of battery projects in Hungary, which can be viewed here

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Toray and LG Chem to form lithium-ion battery separator firm in Hungary

Thu, 11/11/2021 - 10:38 -- Paul Crompton

Korean firms Toray Industries and LG Chem have concluded a joint venture agreement to create a lithium-ion battery separator firm in Hungary.

The agreement sets out plans to establish LG Toray Hungary Battery Separator Kft. (LTHS), in which Toray and LG Chem will each hold a 50% interest. 

Under this arrangement, LG Chem will invest $375 million (around ¥43 billion) in Toray Industries Hungary (THU), a 100% subsidiary of Toray engaged in the manufacture and sales of battery separator film.

The deal is due to be finalised next year, subject to fulfilling regulatory requirements.

The new joint venture will use existing THU facilities to manufacture battery separator film for automotive lithium-ion batteries for sale to LG Group in Europe and the US.

To cater to projected demand growth, Toray and LG Chem have agreed to expand film substrate production facilities and install new coating facilities at the existing THU location. 

Toray has agreed to sell 20% of its stake in LTHS to LG Chem two and a half years after launching the joint venture. LG Chem would then manage joint venture operations. 

LTHS will license from LG Chem and Toray the technologies necessary to produce separators for LG Group lithium-ion batteries. 

The joint venture should also secure stable customers and expand operations by drawing on the LG Group’s business model, which vertically integrates everything from battery materials through battery production. 

The Toray Group will continue to develop, manufacture, and supply battery separator film and coating in Japan and Korea to meet customer needs.

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