South Korea-headquartered Solus Advanced Materials has entered an agreement to supply copper foil to CATL, the world's largest electric vehicle battery manufacturer. The supply will come from Solus Advanced Materials' factory in Hungary, catering to CATL's battery plant in Europe.
The companies are also considering future collaborations for new product development, contingent on Solus Advanced Materials' competitiveness in supplying copper foil locally.
Solus Advanced Materials operates Europe's only copper foil production facility in Hungary, and its copper foil quality and rapid local response are recognized globally.
Chinese battery-maker CATL holds a 40% global market share in battery usage and has been expanding its production capabilities in Europe. This includes a production base in Erfurt, Germany, with a 14-GWh annual capacity since 2022, and a new plant in Debrecen, Hungary, expected to reach a 100-GWh annual capacity within the year.
Kwak Keun-man, CEO of Solus Advanced Materials, said that partnering with CATL presents a significant opportunity to validate its global competitiveness, enhance copper foil technology and stabilize CATL's supply chain in Europe to boost customer satisfaction.
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