EcoPro BM, a South Korean cathode materials company, has won a 5-year, $33.4-billion (43.87 trillion KRW) contract to supply high-nickel NCA cathode material to battery manufacturer Samsung SDI.

The contract runs from 2024 through 2028. The sales unit price for the actual transaction will be determined by applying the price of raw materials (nickel, cobalt, lithium, etc) at the time of the contract period, with periodic price adjustments. EcoPro’s NCA and NCM 811 cathodes are its main cathode series.

EcoPro plans to ship battery materials to Samsung from its Debrecen, Hungary plant, which broke ground in April 2023 and is expected to start production in 2025. Production is expected to reach 108,000 tons per year. EcoPro will supply materials from its Pohang, North Gyeongsang Province complex until that plant begins commercial operation.

Source: Green Car Congress