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Since the beginning of this year, investment in the electric vehicle industry chain has accelerated, leading to an explosive growth in demand for batteries and related materials
.
It is predicted that the battery material market will increase from less than 30 billion euros in 2021 to nearly 75 billion euros in 2026
Recently, SK Materials, a subsidiary of the SK Group, and Group14 Technologies, a US silicon-carbon composite material manufacturer, have established a joint venture to build a lithium-silicon battery material plant in South Korea
.
The joint venture company will invest US$52 million in the facility, which is expected to be put into use in 2022
On August 1, SK Innovation, another subsidiary of the SK Group, stated that it will increase the production capacity of lithium-ion battery separators from 1.
4 billion square meters to 2.
1 billion square meters by 2023, and to 4 billion square meters by 2025
.
In addition, in May of this year, SK nexilis, a copper foil subsidiary of the group, said that it would build a new copper foil factory in Poland later this year
Battery material manufacturer Pohang Steel Chemical said it will build a 60,000-ton/year factory in the Yangjiman Comprehensive Industrial Park in Pohang City, Gyeongsangbuk-do
.
This will provide the positive electrode active material (CAM) for electric vehicle batteries at a total cost of approximately 4.
LG Chem plans to invest 2.
7 trillion won (approximately US$2.
35 billion) in the development of advanced battery materials and increase domestic manufacturing capacity to stabilize the supply of battery materials
.
On July 29, LG Chem announced that the board of directors has approved a plan to acquire the chemical and electronic materials (CEM) business of LG Electronics Business Solutions for 525 billion won
In addition, LG Chem announced that it plans to invest 78 million euros in portfolio transformation to achieve sustainable growth, the core of which is battery materials
.
Among them, 60% of the funds will be used for advanced materials business, so that LG Chem will become the world's number one integrated battery materials company
