StarPlus Energy has selected Lotte Energy Materials as the exclusive supplier of copper foil for the first battery factory of the Samsung SDI/Stellantis joint venture in the United States. The decision was made following quality tests, which Lotte was the only supplier to pass. The company formerly known as Iljin Materials is one of the largest copper foil manufacturers in South Korea.
Delivery could start by end of 2024
The battery plant had originally being scheduled to begin operations in early 2025. However, the joint venture now aims to start in 2024 to take advantage of subsidies from the US government under the Inflation Reduction Act. At full capacity, the 33-gigawatt-hour plant could require between 16,500 and 19,800 tons of copper foil per year. It is estimated that Lotte Energy could generate annual revenue of 75 million to 220 million US dollars from this contract.
Source:
https://www.kedglobal.com/batteries/newsView/ked202408260010
