South Korean electromobility firm EcoPro BM opens its first European factory unit in Debrecen, which is also the first location of the company outside Korea. The volume of the project is EUR 728 million.
Thanks to the investment in manufacturing cathode material for lithium-ion batteries essential for electric vehicle batteries, about 631 new jobs will be created. The capacity of the plant will be 108,000 tons of cathode material, which is sufficient for 1.35 million electric car batteries, the Hungarian Investment Promotion Agency reports.
EcoPro, established in 1998, is now divided into two main areas: environmental protection and IT/energy. The manufacturing of cathode material required to produce lithium-ion batteries is linked to the latter area. EcoPro BM was the very first company in South Korea, which developed and ensured the mass production of cathodes. It was the first company in the world to produce cathodes with 80% nickel content in 2018. Since 2008, it has been the regular supplier of Samsung, but also works together with the Hyundai Heavy Industries.
According to expert estimates, the number of electric cars sold is expected to increase to more than 25 million by 2030; i.e., the number of electric cars sold will increase tenfold in less than a decade. This also reflects the changes in the vehicle industry, the future of electromobility and electric cars.
In response to continued rising demand as well as financial and logistical considerations it has become vital for the largest car manufacturers not to have to import batteries for cars of the future from the Far East, but to have them produced here on the European continent. This investor decision helps Hungary to strengthen its key role in the field of electromobility.
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