EcoPro BM to set up European subsidiary to fuel EV momentum

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EcoPro BM to set up European subsidiary to fuel EV momentum

Published: 26 Oct. 2025, 16:27

SARAH CHEA
[email protected]

Audio report: written by reporters, read by AI

EcoPro founder Lee Dong-chae speaks during an event celebrating the company's 27th anniversary on Oct. 22 at its headquarters in Ochang, North Chungcheong. [ECOPRO]

EcoPro BM, a Korean battery materials producer, will establish a sales subsidiary in Europe to swiftly respond to the region’s growing demand for EVs and to navigate shifting global trade dynamics.

The company plans to elevate its existing European liaison office in Germany to a corporate entity, expanding its scope beyond cathode materials marketing to include operations such as battery recycling.

The push aims to strengthen EcoPro BM’s global value chain by fostering closer collaboration between its Korean headquarters and European battery clients. The European battery market is experiencing rapid growth alongside the expansion of the EV industry, driving calls for diversified sourcing and localized supply chains, as well as addressing regulatory frameworks such as the EU’s Critical Raw Materials Act.

“The new entity will play a key part in luring more European clients ahead of the completion of its cathode materials plant in Debrecen, Hungary,” said a spokesperson for EcoPro BM.

The Hungary plant, which will start production in the first quarter of 2026, will be the company's first plant outside Korea. It will produce up to 108,000 tons of cathode materials annually. Cathode materials are key products that determine a battery's power and account for around 40 percent of battery costs.

An EcoPro BM building in Pohang, North Gyeongsang [YONHAP]

Meanwhile, EcoPro, the parent company of EcoPro BM, recently announced that it will grant roughly 240,000 shares of treasury stock to around 2,400 employees in celebrating the company’s 27th anniversary. Employees of listed affiliates will directly receive shares in their respective companies, while staff at unlisted subsidiaries will be awarded shares in the parent firm.

It will be the second round of restricted stock unit (RSU) grants since EcoPro signed an RSU compensation agreement with employees in February 2023. Under the agreement, the company vowed to distribute a total of 533,515 shares to 2,706 employees, which is equivalent to roughly 20 percent of the average annual salary per person. EcoPro handed out half of the total RSUs last year.

EcoPro said its RSU program was decided upon founder Lee Dong-chae’s philosophy that “the true owners of the company are employees” and that “as the company grows, the fruits of that growth should be shared with those who made it possible.”

BY SARAH CHEA [[email protected]]