Recently, Samsung SDI announced that it has signed an agreement with South Korean cathode material supplier ECOPRO BM to jointly establish a joint venture company to produce next-generation cathode materials.
At the same time, Samsung SDI also plans to invest in ECOPRO BM to establish a strategic partnership.
According to the agreement, ECOPRO BM will invest 72 billion won (460 million yuan) in the joint venture to hold 60% of the shares, and Samsung SDI will invest 48 billion won (280 million yuan) to hold 40% of the shares.
The two companies plan to complete the construction of a cathode material production line in Pohang, Gyeongsangbuk-do by the end of the year, and put into production in the first quarter of 2022. After the construction is completed, they will have an annual production capacity of 50,000 tons.