Lotte Aluminium to build an aluminum anode foils production plant in Hungary
Lotte Aluminium to build an aluminum anode foils production plant in Hungary
  • Jung Jun-ho
  • 승인 2020.02.26 09:30
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Since Lotte Alminium held an investment presentation at the Hungarian Ministry of Foreign Affairs and Trade on February 24 (local time), the Hungarian investment commissioner (second from left), Hungarian vice foreign minister (third from left), and Lotte Alminium CEO Cho Hyun-chul (fourth from left) are taking photos. (Courtesy of Lotte Alminium)

Lotte Aluminium announced on Feb. 25 that it will invest in an aluminum anode foils production plant for secondary batteries in Hungary.

Lotte Aluminium will invest 110 billion won in an industrial complex in Tatabanya, Hungary to complete the plant in the first half of 2021 to produce aluminum anode foils for secondary batteries used in eco-friendly electric vehicles.

Lotte Aluminium is the largest comprehensive packaging material company in Korea, producing various products such as aluminum foils and medicinal/food packaging materials, CAN and PET, and recently expanding its business into eco-friendly materials such as aluminum anode foils for secondary batteries in line with Lotte Group's eco-friendly policies.

With global eco-friendly policies, regulations to reduce CO2 emissions of automobiles will be tightened further, especially in the EU, to 81g CO2/km in 2025, making most internal combustion engine cars subject to regulation.

As a result, the electric vehicle market is expected to grow at a fast pace, and demand for secondary batteries, a key component of electric vehicles, is also expected to increase.

Accordingly, Lotte Aluminium is preparing to build a plant on 60,000 square meters of land inside the Tatabanya industrial complex in Hungary, where eco-friendly automotive infrastructure is being built to cope with a growing demand for electric vehicle batteries, centering on global eco-friendly policies.

Construction will begin in April this year and be completed in the first half of 2021. Lotte Aluminium will produce 18,000 tons of aluminum anode foils for secondary batteries for electric vehicles every year at the plant and supply them to companies in Europe.

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