South Korea-based Lotte Aluminium plans to set up an aluminium anode foil production plant in Tatabánya, Hungary, according to local media. The plant is likely to commence operations in June 2021.
Aluminium anode for secondary batteries (storage batteries) is used in eco-friendly electric vehicles. The electric vehicle market is growing at a fast pace and demand for secondary battery is likely to increase in the near time.
The plant entails an investment of KRW110,000mn ($90.46mn) and will be built on a 60,000 square metres of land in Tatabánya industrial complex. The construction is set to begin in April 2020. The facility will produce 18,000mt of aluminium anode foils annually and supply mainly to European companies.