Lotte Energy Materials, a subsidiary of South Korea’s Lotte Chemical, plans to invest KRW560bn (US$430m) in a plant in Spain making copper foil for lithium ion batteries for electric vehicles (EVs).

Copper foil is a key component of anodes.

The factory would be built near the Catalonian town of Mont-Roig del Camp and have initial capacity for 30,000 tons of high end copper foil per year.

Construction was scheduled to begin in the second half of 2023 with the plant operational in 2025.

Lotte Energy Materials, formerly known as Iljin Materials Company, said the site it had acquired in Mont-Roig del Camp had potential to accommodate capacity of 100,000 tons per year.

It has a copper foil plant in Iksan, South Korea with capacity of 60,000 tons.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Its only overseas plant so far is in Malaysia and being expanded from 40,000 to 60,000 tons.

The company has targeted copper foil production capacity of 240,000 tons per year worldwide by 2028, to claim a 30% share of the global high end copper foil market.

It competes head on with South Korean copper foil manufacturer SK Nexilis which has announced similar growth targets.