South Korea's three major battery giants accelerated the production of materials, and the power battery market started a land enclosure war

South Korea's "Asia Daily" reported on January 18 that in the face of the development prospects of the electric vehicle industry, South Korea's three major power battery companies are taking advantage of the momentum to accelerate the expansion, "enclosure war" extended to the battery main material production market, and each enterprise strives to consolidate its competitive advantage through independent production.

According to the industry's news on the 18th, LG Chem plans to set up a new power battery cathode material production plant in Gumi, Gyeongsang North Province, South Korea, in addition to the plants in Gyeongju, Yishan, and Wuxi, China, with an annual production scale of 60,000 tons.

STM, a subsidiary of Samsung SDI, has partnered with EcoPro EM to promote the in-house production of cathode materials. EcoPro EM will officially start the production of NCA cathode material this year, with an annual output of 36,000 tons, which can support 400,000 electric vehicles, and all the materials produced will be used to supply Samsung SDI.

SKIETechnology (SKIET), a subsidiary of SK Innovation, increased production by adding production facilities overseas, and in October last year, the first lithium battery separator plant in Poland was completed and put into operation, with an annual output of 340 million square meters, which can be used by 300,000 electric vehicles. In addition, SKIET will add three new plants by 2024, pushing annual production to 1.54 billion square meters.