South Korean battery materials manufacturer EcoPro BM has signed a contract with Samsung SDI for the supply of lithium nickel cobalt aluminum oxide (NCA) cathode material. According to the company, the contract is valued at 44 trillion won (around 34 billion US dollars) and will run from the beginning of 2024 to the end of 2028.
Production in Hungary as soon as plant completes
The first deliveries in 2024 are scheduled to stem from the EcoPro BM plant in Pohang, South Korea. From 2025, the company plans to produce cathode material at its new plant in Hungary from which Samsung SDI will be supplied in Europe. The plant in Debrecen has been under construction since April 2023.
Partnership goes back to 2011
Apart from the financial scope, no further contract details are known. The partnership between EcoPro BM and Samsung SDI began in 2011. Since then, EcoPro BM has supplied a total of around 200,000 tons of cathodes to Samsung SDI.