Kokam has placed orders for equipment that will be used in its new factory at Eumseong.
The new factory is planned to have a production capacity of 2GWh per year, twenty times that of its factory at Nonsan. The company’s current capacity is 100MWh.
The new factory is planned to go live within 2021. It will operate in full capacity likely around 2023.
Kokam has finished orders for electrode equipment. Orders for mixing equipment are ongoing, while those for formation and assembly will follow afterwards.
The Eumseong factory will be built on 56,000 meter-square of land at the industrial complex at Eumseong.
Kokam is expected to spend 200 billion won for the factory.
The company’s accelerated spending in South Korea likely comes for the global shortage in batteries and it winning more orders from energy storage systems in the US, a person familiar with the matter said.
Kokam has sofar supplied batteries to various sectors such as ESS, ship, aerospace and defense.
The company was founded in 1989. Israel’s SolarEdge bought a 75% take in the company with US$88 million. In December last year, the company named a new CEO __ Jeong Seh-woong, who previously headed large-size battery at Samsung SDI.