This file photo provided by SK nexilis Co. on Oct. 20, 2021, shows rolls of copper foil, one of the key materials used in the lithium-ion battery for electric vehicles. (SK nexilis Co.)
SK nexilis Co., a chemical unit of South Korean conglomerate SK Group, said Wednesday it will build a new copper foil factory in Europe to meet growing demand for the essential material for rechargeable batteries.
SK nexilis, the copper making unit under SKC Inc. said it will expand its manufacturing capacity to over 200,000 tons a year by 2025, up from the current capacity of 43,000 tons.
Copper foil is as thin as one-fifteenth of human hair and is used as the anode current collector of the lithium-ion battery cell, which is used in electric vehicles (EVs).
As part of the broader plan, SK nexilis aims to pick a site in Europe and break ground within this year, with a goal of completing the construction in 2024.
Poland is a strong candidate, considering its geographical proximity to major battery factories, the firm said.
SK nexilis earlier said it plans to start construction of a new production facility in Malaysia later this year to start commercial production in 2023, and it is considering investment in the United States in line with rapidly growing demand for EV batteries. (Yonhap)
