SK Nexilis employees examine the copper foil produced at the manufacturing complex in Jeongeup, North Jeolla Province on Oct. 12, 2022. (Yonhap)
SK Nexilis Co., a South Korean copper foil maker, said Monday it has signed a deal with German battery manufacturer Varta A.G. to exclusively supply its product for what will be Varta's first mass production of electric vehicle batteries.
SK Nexilis said it is also in talks with Varta over a possible long-term supply agreement, at least for over five years, considering the potential additional demand from Varta should it increase production.
SK Nexilis did not provide any further details about the contract, citing the terms of the agreement.
The latest supply deal came after SK Nexilis signed a 1.4 trillion-won ($1.07 billion) contract to supply copper foil to Northvolt A.B., the Swedish secondary battery producer and the largest player in Europe.
Copper foil is a key anode component used in lithium-ion battery cells for EVs.
SK Nexilis, a unit of South Korean chemical materials maker SKC Co., has the technology to produce the world's thinnest copper foil -- about one-thirtieth the thickness of a human hair -- and the widest at 1.4 meters and the longest at up to 77 kilometers.
Established in 1887, Varta has been a major player in the industrial and consumer battery markets, and lately it has been pushing to advance into the EV battery sector. It has attracted more than 300 million euros ($330 million) in funding from investors, including the German government, for its expansion into the EV battery segment. (Yonhap)
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