Nain Tech will aim to have battery equipment account for over 60% of its sales in 2021, the company CEO told TheElec on Monday at its shareholders’ meeting.
In 2020, battery equipment contributed around the same portion of sales to display equipment.
Nain Tech’s main customer, LG Energy Solution, is expected to expand its electric vehicle (EV) battery production this year.
Nain Tech CEO Park Geun-noh, however, didn’t mention specific sales target. He said however that the company will aim to secure a stable profit structure through improving yield rate of its display equipment.
It will expand its business areas this year by improving its battery equipment, Park said.
Nain Tech is the exclusive supplier of lamination and stacking equipment for pouch-type batteries to LG Energy Solution.
The kits will likely used by Ultium Cells, the joint venture between LG and General Motors based in the US.
Ultium Cells has been preparing to place orders for equipment since late last year.
LG uses lamination and stack method to manufacture batteries. The cathode and anode are laid on top of the separator, laminated, and put inside cell magazines. The cell magazines are then stacked atop each other like stairs.
This method allows for the battery cell to become longer compared to the Z-stacking method used by SK Innovation and Samsung SDI. In Z-staking, the cathode and anode are made into one sheet and stacked alternatively with the separators.
Nain Tech is also aiming to expand into other assembly equipment, for use in ares such as notching, degassing and packaging.
The company is also aiming to expand into transport equipment used in moving batteries are finished with the formation process. This equipment will be based on Nain Tech’s experience in making transport equipment for
Last year, the company recorded 65.8 billion won in sales and 3.2 billion won in operating income, a drop of 12.5% and 49%, respectively, from 2019.