SKC said on Wednesday that it will secure annual copper foil production capacity of over 200,000 metric tonnes by 2025, to meet rising demand from electric car batteries.
The company said it has finalized a plan to expand it to 202,000 metric tonnes, but this could be expanded to 250,000 metric tonnes.
SKC’s copper foil subsidiary SK Nexilis approved a plan to build a copper foil factory with a capacity of 50,000 metric tonnes per year in Europe.
Poland is the prime candidate and the company was discussing terms with the local government there, it said.
The country was advantageous in reaching SKC’s customers around the area.
Four global lithium-ion batteries maker have facilities in Poland or nearby, SKC stressed.
The company could also secure more space to build factories so it was also good for scalability, SKC added.
The firm is hoping to start building the new factory this year and finish it in 2024.
Completion of it will secure SKC a total annual production capacity of 152,000 metric tonnes for copper foil.
SK Nexlis said demand was rising faster than expected. The company’s factory at Jeongeup, South Korea was operating at 100% capacity since last year, it said.
A fifth factory that was planned to start operation next year will instead begin six months earlier. A sixth factory under construction will also begin operation faster than planned, SK Nexlis had said.