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[Alpha Biz=(Chicago) Reporter Kim Jisun] EnChem, South Korea's largest electrolyte producer, said on the 24th that it has confirmed the supply of next-generation electrolytes to the first Ohio plant of Altium Cells’, a battery joint venture between LG Energy Solutions and General Motors (GM) in the U.S.
EnChem started supplying products to SK On's plant in Georgia earlier this year after completing its first plant in Georgia last December. Since the implementation of the US Inflation Reduction Act (IRA), EnChem has been expanding in Tennessee and other regions.
EnChem will supply electrolytes to the Tennessee plant, the second plant, in February next year, starting with the delivery of the first plant of Ultium Cells. Ultium Cells plans to build a total of three production facilities in the U.S. by 2024, which is expected to expand EnChem's North American market share.
EnChem is expanding its plants in major battery production bases, including North America. The first to complete expansion is the first plant in the U.S. and the first European plant in Wroclaw, Poland. The two plants plan to increase their production capacity to 40,000 tons (t) by the fourth quarter of this year.
The third Chinese plant at Jangga Port, which has an annual production capacity of 40,000 tons, will also be completed by the end of this year, while the 40,000-ton Komarom European plant in Hungary and the second U.S. plant in Tennessee are expected to be completed early next year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
