SK nexilis supplies 1.4 trillion won of copper foil to Northvolt in Sweden for 5 years
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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stockmk2020@alphabiz.co.kr | 2023-02-20 05:01:27
[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Nexilis, an investor in SKC's copper foil business for secondary batteries, has signed a large-scale mid- to long-term supply contract with Sweden's Northvolt, Europe's largest secondary battery manufacturer.
SK Nexis announced on the 19th that it has signed a contract to supply copper foil for secondary batteries produced at SK Nexis Poland's Starobabola plant to Northbolt for five years from 2024 at its Northvolt headquarters in Stockholm, Sweden on the 17th (local time).
The contract volume is about 80% of the copper foil demand that Northvolt needs during the period. Up to 1.4 trillion won can be used for 1.7 million electric vehicles. SK Nexilis will operate a Polish plant of 50,000 tons annually from 2024.
The two companies also agreed to strengthen mid- to long-term cooperation with this contract. Northvolt is a local European manufacturer that is competitive in the global battery market. It has received more than 1 trillion won in investment from European automakers such as Volkswagen and Volvo to build a large-scale local production plant with a total of 150GWh. With this contract, Northvolt will be able to mass-produce batteries by stably securing copper foil, a key material for secondary batteries.
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