LG Chem Makes Equity Investments in Chinese Copper Laminate Company

- Advertisement -

DeFu is the third-ranked copper laminate manufacturer in China based on production capacity, and it produces ‘battery laminate,’ a copper laminate for secondary batteries, and copper laminates for printed circuit boards (PBC) in electronic products

LG Chem is investing in equities for China’s Jiujiang DeFu Technology (DeFu), which manufactures copper laminate that is a core part of secondary batteries, by investing approximately 40 billion KRW. DeFu is the third-ranked copper laminate manufacturer in China based on production capacity, and it produces ‘battery laminate,’ a copper laminate for secondary batteries, and copper laminates for printed circuit boards (PBC) in electronic products.

“We will strengthen our value chain through omnidirectional collaboration with global companies,” adding, “We will enhance the competitiveness for existing businesses and capacities for new businesses to lead the battery materials market,” said Chul Nam (Senior Vice President / President, Advanced Materials Company).

- Advertisement -

According to Hana Financial Investment, the global market demand for secondary battery copper laminates is expected to grow from 260,000 tons this year to 620,000 tons by 2025 at an annual average of 25 per cent.

Third-ranked copper laminate manufacturer in China

DeFu is the third-ranked copper laminate manufacturer in China based on production capacity, and it produces ‘battery laminate,’ a copper laminate for secondary batteries, and copper laminates for printed circuit boards (PBC) in electronic products. It operates production plants in the two regions of Jiujang, Jiangxi Province and Lanzhou, Gansu Province in China.

The company’s current production capacity is 49,000 tons annually, and it plans to expand its scale to 78,000 tons by 2022. Q1 revenue was posted as 113 billion KRW, quadrupling in revenue compared to the same period of the previous year.

LG Chem plans to focus on fostering the battery materials business as its new growth engine, thus deciding to make equity investments in DeFu, which possesses not only growth potential, but also synergy effects between businesses. Furthermore, LG Chem plans to enter an MOU to construct a long-term cooperative partnership in the copper laminate business with DeFu, while continuing talks about a variety of cooperation plans for the battery laminate business.

Copper laminate is a thin copper sheet measuring to about 1/15 the size of human hair, and it is a core material for EV batteries that is used in battery anode materials to make electric currents flow. It is expected that demand will rapidly grow due to the explosive growth of the battery market.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

8 EMC Projects Completed

0
The Electronics Manufacturing Cluster is leaving no stone unturned for setting up operational units around the country. Out of the 3464.42 acres, 1342 acres...

Exclusive

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...

8 EMC Projects Completed

0
The Electronics Manufacturing Cluster is leaving no stone unturned for setting up operational units around the country. Out of the 3464.42 acres, 1342 acres...

Important Sectors

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...

Manufacturing

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...
EV

Volkswagen Testing ŠKODA EVs in India

0
German auto giant Volkswagen has begun to test some ŠKODA EVs in India. As per a senior official of the company, the step aims...

Mahindra To Launch Unveiled e-SUVs in 2024

0
On Monday, Indian auto-giant Mahindra & Mahindra (M&M) unveiled its five new electric sports utility vehicles (e-SUVs) --- XUV.e8, XUV.e9, BE.05, BE.07 and BE.09,...

US Aiming to Regain its Semiconductor Leadership

0
Semiconductors are now finding a rightful place in all areas such as national security, information technology, aerospace, and so forth. What is sad is...