South Korea’s electrolyte maker Enchem Co. said Monday it aims to expand its annual production capacity in the US to 300,000 tons by 2026 to meet increasing demand for electrolytes from the US as well as Korean electric vehicle battery giants LG Energy Solution Ltd. and SK On Co.
Enchem is planning to increase the annual manufacturing capacity of the existing plant in the US state of Georgia to 140,000 tons by 2024 and start producing up to 160,000 tons of electrolyte in 2026 at factories under construction in four other states.
It aims to manufacture 60,000 tons and 20,000 tons of the key battery material at Michigan-based and Ohio-based factories, respectively. The two plants are jointly invested in by LG Energy Solution and General Motors Co.
Enchem is also planning to produce 40,000 tons of electrolytes from Kentucky-based facilities, invested in by SK On and Ford Motor Co., as well as another 40,000 tons from Tennessee-based three factories, each jointly invested by SK On-Ford, LG Energy Solution-GM and Ford-Volkswagen.
The Korean firm will apply for licenses to produce electrolytes from the four states once the plants are constructed, Enchem official said.
Enchem is forecast to rank fourth in the global electrolyte production market this year, making up 6% with 50,000 tons, following China’s Tinci, Capchem and GTHR, the Korean firm said.
The Korean electrolyte maker is aiming to increase its annual production capacity to 100,000 tons next year, accounting for 10% of the global market. The company is operating six factories in Korea, Poland, China and the US and is also planning to set up six new plants in Hungary, China and the US.
Updated with Tennessee-based plants and Enchem official's commentWrite to Hyung-Kyu Kim at
khk@hankyung.comJihyun Kim edited this article.
