SK IE Technology (SKIET), a material business subsidiary of South Korea’s SK Innovation, is looking to enter the US separator market, its CEO said.
Addressing the company AGM on Tuesday, CEO Kim Cheol-jung said the addition of Chinese companies to the US government’s Foreign Entity of Concern (FEOC) list, “can be seen as a potential opportunity for SKIET”.
Detailed guidelines of the Inflation Reduction Act were announced by the US Treasury Department in December. “With Chinese enterprises essentially unable to receive IRA subsidies, the supply chain for battery materials is diversifying towards non-Chinese companies.
“We will quickly finalise our decisions and move to secure profitability in the high-growth potential North American market,” he said.
He added that SKIET plans to develop optimised separators for the global market. The company will this year focus more on reducing fixed costs and enhancing cost competitiveness through productivity innovation.
