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[Alpha Biz=(Chicago) Reporter Kim Jisun] Solus Advanced Materials supplies copper foil worth up to 800 billion won to French battery companies
Solus Advanced Materials, South Korea's major secondary battery copper foil company, will expand its contract to supply copper foil it signed with a French battery company last year to supply up to 800 billion won worth of copper foil over five years.
According to related industries on the 7th, Solus Advanced Materials recently signed a contract with French electric vehicle battery maker ACC to supply 300 billion won worth of battery foil. This is an increase in supply volume from the contract signed last year (200 billion won) and will provide copper foil for five years from 2024 to 2028.
In particular, the contract is said to have excluded the price of raw materials such as copper. As a result, the actual contract size is estimated to reach up to 800 billion won. Solus Advanced Materials will produce the copper foil product at its Hungarian plant from 2024 and deliver it to ACC's first Giga Factory in Dubrin, France.
ACC, contracted by Solus Advanced Materials, is an electric vehicle battery company that is a joint venture between Total Energy of France, Mercedes-Benz of Germany, and Stellatis of the U.S. and Italy. As Solus Advanced Materials signed a copper foil supply contract with ACC for the first time in the world, it is expected that it will continue to build strategic partnerships in the future. In line with the market expansion of ACC in the future, additional copper foil supply contracts for Solus advanced materials are expected.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
