Lotte Aluminium quadruples aluminum foil capacity at AnsanLotte Aluminium said Monday that it has increased the output capacity of its production lines for cathode foil at its plant near Seoul to meet growing demand for electric vehicle (EV) batteries.
The move raised the annual production capacity of cathode foil — a key material in making EV batteries — at the Ansan plant to 12,000 tons from the previous 3,000 tons.
Lotte Aluminium is set to complete its plant with a capacity of 18,000 tons of cathode foil in Tatabanya Industrial Park in northwestern Hungary in 2021.
The increased production capacity is meant to meet growing demand for EV batteries amid the global race for zero-emissions cars.
Lotte Aluminium said it aims to sell its cathode foil to South Korean manufacturers of EV batteries, though it did not give details.
More in Industry
Chuseok delivery strike canceled as headcount increased
BMW Motorrad channels 1936 for its latest bike
Battery business IPO won't affect LG Chem's controlling stake, company says
Hyundai Construction Equipment signs Algeria forklift deal
FSS permits financial sector workers to use networks remotely