SK Innovation to cooperate with Ecopro Group

The parties made a deal to cooperate in various areas in the future including making joint investments in material businesses related to cathode materials, building plants home and abroad, and recycling waste batteries. Together with Ecopro Group, one of its key partners in materials business, SK Innovation aims to "lead the high-performance battery cathode material market, as the demand for it is expected to skyrocket", a press release reads. The cathode material is a core material that determines the battery performance, and it accounts for almost 50% of the battery cell production cost. Ecopro BM is a specialist in the field of high-nickel cathode materials used to make high-performance batteries. High-nickel refers to a battery with a high proportion of nickel among nickel, cobalt, and manganese – the main components of the cathodic material. The higher the nickel content, the better the battery performance. Jee Dong-seob, President of SK Innovation’s Battery Business, emphasized “We will strengthen cooperation with our solid partner Ecopro Group to achieve our goal of becoming a global top company by increasing business competitiveness in the field of high-quality battery and core materials manufacturing.”

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Photo: SK Innovation’s Battery Business Jee Dong-seob (left) and Chairman of Ecopro Lee Dong-che (right) are taking a commemorative photo at the purchase contract and agreement ceremony held at SK Seorin Building in Seoul, Korea on September 9, 2021.