South Korean electric vehicle battery material firm EcoPro EM announced Friday that the world's largest cathode material production line has completed construction in Pohang, North Gyeongsang Province.
All of the critical material produced in the facility, named CAM7, will be supplied to Samsung SDI, the world's sixth-largest battery supplier, with some 5 percent of the global market share. The facility is ready to go online beginning the first quarter of 2023.
The newest facility of EcoPro EM, a 60-40 joint venture of high-nickel cathode active material supplier EcoPro BM and lithium-ion battery maker Samsung SDI, will boast an annual capacity of 54,000 metric tons of cathode active material.
This will increase EcoPro EM's annual production capacity to a total of 90,000 tons.
"The race to gain sovereignty in the world's electric vehicle and battery industry is ever intensifying, and the completion of a new factory captures a historic moment in which the nation steps up its game in these industries," said Samsung SDI CEO Choi Yoon-ho.
"Samsung SDI will share its know-how in business management with EcoPro EM to bring the company to the international stage with its world-class cathode material technology,” Choi added.
EcoPro Group, which is dedicated to battery materials, battery recycling and environmental solutions, has invested a combined 1.2 trillion won ($837.4 billion) into the port city of Pohang and created some 1,600 jobs since 2017, according to the company.