Conversion to NCA/NCM Hybrid Line
Cathode Materials Supply to Europe from Q4 Next Year
Nickel Supply Chain Strengthened in Connection with BNSI in Indonesia
EcoPro BM has begun upgrading its production line at its plant in Hungary to supply high-nickel cathode materials to European car manufacturers.
Jinwoo Joo, Head of IR at Ecopro BM, explained the overview of the rights offering to general shareholders at a corporate presentation for retail investors held at the NH Investment & Securities headquarters in Yeouido, Seoul on the 21st. Ecopro BM
On August 24, EcoPro BM announced that it is refurbishing the existing NCA (nickel, cobalt, aluminum) line at its Hungary plant into a mixed-use line capable of also producing NCM (nickel, cobalt, manganese), in order to supply high-nickel cathode materials for premium electric vehicles in Europe starting from the fourth quarter of next year.
EcoPro BM explained the status of its European business at a corporate briefing session for retail investors held at the NH Investment & Securities headquarters in Yeouido, Seoul on the 21st, stating, “We have begun investing in the refurbishment of the Hungary plant to supply high-nickel cathode materials to a German premium automobile company.” It is reported that about 40 billion won will be invested in the line refurbishment.
The Hungary plant, which began commercial operations in the first half of this year, has an annual cathode material production capacity of 54,000 tons. The facility currently runs on the NCA line, and EcoPro BM is proceeding with equipment orders and shipping work to convert it to an ‘NCA·NCM hybrid line’ that can also manufacture NCM.
EcoPro Group has established production facilities on approximately 440,000 square meters of land in Debrecen, Hungary, including EcoPro BM, which manufactures cathode materials; EcoPro Innovation, responsible for lithium processing; and EcoPro AP, which produces industrial oxygen and nitrogen.
EcoPro BM’s annual cathode production capacity across three lines is 54,000 tons, sufficient to supply about 600,000 electric vehicles per year. EcoPro Innovation produces 8,000 tons of lithium hydroxide annually, and EcoPro AP supplies 16,000 cubic meters of oxygen per hour.
With the acquisition of more European clients accelerating, EcoPro BM explained that the Hungary subsidiary is now within sight of turning a profit. The Debrecen plant began operations of its first line in June and plans to start up its second line in September. This year’s annual production target is 10,000 tons, with a plan to expand to 30,000 tons next year.
EcoPro BM set out its ambition at the Q2 earnings conference call to achieve a quarterly profit structure and surpass its annual breakeven point through increased volumes in the second half, production line stabilization, improved operational efficiency, and cost reduction.
In the medium to long term, EcoPro BM expects the Hungary subsidiary’s production volumes to increase as the implementation of the EU-UK Trade and Cooperation Agreement (TCA) and efforts by European automakers to expand local sourcing gain momentum.
The products EcoPro BM will supply to Europe are high-nickel cathode materials with a nickel content exceeding 90%. EcoPro Group aims to secure the key raw material nickel from the BNSI smelter under construction in Indonesia and enhance its European supply chain competitiveness by linking it with the Hungary plant. Through this, the company plans to ensure the stability of raw material procurement and cost competitiveness, and expand orders from European automakers.
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Jangwoo Kim, CEO of EcoPro BM, stated, “We expect the Hungary subsidiary to begin recording solid profits from the fourth quarter,” adding, “We will accelerate both the strengthening of our partnerships with European automotive OEMs and profitability improvement based on a stable supply chain.”
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