Ultra-thin sheets of copper foil are used by manufacturers of lithium-ion batteries for use in electric vehicles (EVs).
SK Nexilis Company, a subsidiary of South Korean conglomerate SK Group, announced it will build a new copper foil manufacturing plant in Poland this year to meet growing demand from manufacturers of lithium-ion batteries for use in electric vehicles (EVs).
Ultra-thin sheets of copper foil are used as the negative electrode current collector in lithium-ion cells.
SK Nexilis confirmed it plans to expand its global manufacturing capacity to over 200,000 tons of copper foil per year by 2025, up from the current capacity of 43,000 tons, as global demand for electric vehicles continues to grow.
A site in Poland is expected to be selected in the coming months, with construction set to begin before the end of the year for completion in 2024.
The company previously announced plans to begin construction of a copper foil plant in Malaysia this year and is also considering an investment in the US.
SK IE Technology Company, also an SK Group company which was recently listed on the KOSPI South Korean stock exchange, is currently building EV battery separator plants in the US and Poland.
SK Group completed the acquisition of KCF Technologies (KCFT), which claimed to be the largest manufacturer of copper foil for EV batteries, in 2020.