Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

South Korean manufacturer Lotte Aluminum recently invested $23.7mn to increase aluminum cathode production at its Seoul plant, which will supply the electric vehicle (EV) market.


Lotte currently operates an aluminum foil plant in the South Korean capital that makes various grades of the material, ranging from food packaging to medical use. The company has decided to boost production of its 12-20mm thick cathode foil to 12,000mt a year from its current capacity of 3,000mt.


The company is also developing a plant in Tatabanya, Hungary, to produce similar material. Lotte indicated it will commission the 18,000mt-a-year plant in 2021.


The foilmaker also disclosed that this move is aimed at meeting surging demand from EV manufacturers that require cathode foil to coat the batteries used to power the vehicles. While no names were disclosed, Hyundai and Kia will surely be among Lotte’s biggest customers since they hold significant market share in South Korea’s automotive and EV markets. 

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