Here's a bit more info re the SKI-Ecopro partnership - with specific mention of the Kia Nyro.
Ecopro's cathode production is forecast to grow tenfold from the 18,000 tons in 2018 to 183,000 tons by 2023.
Clearly, the capacity will be there to provide for SKI's needs at that time. The question is, will the Sconi offering be more attractive?
"183,000 tons by 2023, sales target 5 trillion won
Ecopro Bm will more than triple its annual production capacity of battery anode in the second half of this year.
On October 14, EcoproBM announced this goal in the IPO IR held for general investors in the Korea Exchange in Yeouido, Seoul. Last year, the battery anode production capacity was 18,800 tons. It will increase to 55,000 tons by October this year. And plans to increase production to 202,000 tons in 2023. In the same period, we aim to achieve sales of 5 trillion won.
The company announced that it will lead the market of battery cathode materials in line with the spread of electric vehicles (EV), and set up a mid- to long-term growth footing.
Kim Byeong-hun, CEO of Ecopro BIM, said, "We will increase the capacity of anode production in the next five years at the Pohang 3 plant, which is being expanded with the existing Ochang 1 and 2 factories." In 2023, I will secure it in the sector"
The cathode material is one of the four batteries (cathode material, anode material, separator, electrolyte). It accounts for 35 ~ 40% of battery cost.
Ecopro Bm is mainly focused on nickel-nickel-cobalt-manganese (NCM), nickel-cobalt-aluminum (NCA). NCM has a nickel content of 80% or more, and NCA is 90% or more.
Kim said, "NCM and NCA can be supplied at the same time, and cost competitiveness is secured by relatively less use of cobalt, which has high price volatility." Nickel has a high energy density and can increase the mileage when the EV is fully charged. "He said. As the nickel content increases, Kim has secured stability by coating manganese around the nickel for heat management.
The background for Ecoprobe's expansion of cathode materials is in the spread of EV diffusion. According to market researcher Deloitte Consulting, annual EV sales will grow from 4 million units in 2020 to 14 million units in 2025 and to 21 million units in 2030.
Ecopro BM produces EV batteries at its Pohang plant, which is being expanded. Small-scale mass production system. The existing Ochang plant focuses on small-volume production of various types of products, such as non-IT batteries (mainly cylindrical). In terms of cathode material production capacity in 2023, Pohang 83.9% and Ochang 16.1%.
Kim said, "To increase energy density, there is no answer other than nickel, and Ecoprobe will receive the most benefit from the EV market." We will raise the proportion of EV, which is about 17% "He said.
By the third quarter of last year, Ecoprobi had sales of 406 billion won and operating profit of 36 billion won. From 2014 to last year, sales grew at an annual average of 90% and operating profit grew by 102.4%.
Major customers are Samsung SDI and SK Innovation. The NCA cathode material was mainly applied to the cylindrical battery of Samsung SDI.
In case of NCM cathode material, Kia Motors' Nyro EV battery supplied by SK Innovation was installed.
On the other hand, the number of shares of EcoproBM's IPO is 3 million shares, and the hoped IPO price is 38,500 won to 42,900 won. The total amount of the public offering is estimated to be between 112.5 billion won and 128.7 billion won. After the demand forecasts are finalized on 21-22, the public offering price is confirmed and subscription is proceeded. If funds are secured, the company plans to invest W780bn, which is more than 70%, in capacity expansion.
(20min delay)
