North Asia

Korea’s Lotte Chemical to Expand EV Battery Materials Output

 

South Korea’s Lotte Chemical plans to spend an additional $108 million to expand a factory to produce four core electrolyte materials vital to the manufacture of lithium-ion batteries for electric vehicles (EVs).

The company said it would accelerate the production of ethyl methyl carbonate (EMC) and diethyl carbonate (DEC) – two types of electrolyte solvents – using its own technologies at its Daesan factory.

Electrolyte solvents are liquid solutions in a battery that helps lithium-ion move easily between anode and cathode. It is a key material that affects the performance and durability of the rechargeable batteries used in EVs.

Lotte said the materials had been “exclusive to a small number of global companies”, and this would be the first commercial production project in South Korea.

 

 

Battery-Grade Electrolyte Solvents

“We will strive to expand materials for lithium-ion batteries through active battery material technology development and business cooperation with affiliates within the group,” Lee Young-joon, head of Lotte Chemicals’ battery materials business unit, said.

Earlier this month, Lotte Chemical and Sasol Chemicals, a business unit of Sasol, agreed to conduct a pre-feasibility study of a joint project to build, own and operate a plant in the US to produce battery-grade electrolyte solvents.

The companies said they would assess the suitability of Sasol’s locations near Lake Charles in the US and Marl in Germany for a facility that could produce a variety of battery-grade electrolyte solvents.

The plants would use feedstock provided by Sasol and third parties and employ proprietary technologies of both Lotte and third-party licensors.

“The increase in battery demand is driving the rapid growth of demand for the key materials that constitute a lithium-ion battery,” Lee said.

“Lotte Chemical will lead the global battery materials market quantitatively and qualitatively by rapidly expanding our battery materials business.”

 

  • George Russell

 

 

READ MORE:

Australian Miner Liontown Signs Lithium Deal With Ford

Carmaker Stellantis Buys 8% Stake in Australian Lithium Producer

China Lithium Producer Tianqi Plans $1bn Hong Kong IPO – WSJ

 

 

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

Recent Posts

FTX Crypto Fraudster Bankman-Fried Jailed For 25 Years

A US District Judge said the former billionaire wunderkid was responsible for one of the…

11 hours ago

China’s Big 5 Lenders Warn of Property Risks as Margins Shrink

Banks have been reluctant to deepen their exposure to the ailing real estate sector but…

12 hours ago

Chinese Biotech Giant WuXi ‘Sent US Client’s Data to Beijing’

US intelligence officials say Chinese pharma companies are risking national security at a time when…

16 hours ago

China’s BYD Delays EV Factory; Solid-State Batteries ‘Unsafe’

BYD has set back plans for an EV factory in Vietnam, while CATL has said…

17 hours ago

Yellen: China’s Green Energy Push a Threat to Global Jobs – AP

US Treasury Secretary Janet Yellen has accused China of ‘distorting prices’ with its increased green…

17 hours ago

Yen Fears Drag on Nikkei, Hang Seng Lifted by Policy Bets

Japan’s plunging currency and the threat of BoJ intervention sent Tokyo’s soaraway benchmark downwards

18 hours ago