Samsung Engineering Company has won an order to build a copper foil plant for electric vehicle batteries in Hungary, according to reports in South Korea.
The KRW150bn (US$136m) order was placed by Doosan Corporation, a South Korean manufacturer of high tech electrical and electronic materials controlled by Doosan Solus.
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This will be the company's second copper foil plant in Europe, the first having gone into operation in April of this year with an annual production capacity of 10,000 tonnes.
Construction of the new plant in the Tatabanya Industrial Park in Hungary is scheduled to be completed in 2022 with capacity of 15,000 tonnes of copper foil.
The foil is a key component for the production of batteries with the South Korean company targeting growing demand from the electric vehicle industry in Europe.
Sales of electric vehicles in this region are projected to accelerate sharply this decade, driven by increasingly strict environment regulations.
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By GlobalDataDoosan Solus said it plans to eventually expand capacity to 75,000 tonnes per year at the two plants combined, enough for 3m electric vehicle batteries.
