SKIET announced on May 1 (local time) that the company signed an MOU with Sunwoda, the 9th largest battery manufacturer in terms of global market share (according to SNE Research in 2022), to strengthen cooperation in supplying battery separators.
The purpose of the MOU is to strengthen cooperation between the two companies in supplying battery separators. The MOU signing ceremony was held at Sunwoda's headquarters in Shenzhen, China, and was attended by several officials from both companies, including SKIET's Head of LiBS Marketing Office Seo Jung-heun and Leader of Asia Sales & Marketing Team Hwang Chan-wook, and Sunwoda's Founder Wang Mingwang and General Manager of Procurement Su Zujin.
Under the agreement, SKIET plans to supply separators produced at its Changzhou factory in China to Sunwoda. This marks the first time that SKIET will supply EV battery separators to a Chinese EV battery manufacturer at a large scale.
Previously, SKIET had been supplying separators for IT and electronic products to Sunwoda. Sunwoda's major customers for its batteries include Geely Auto Group, Dongfeng Cummins Engine Co., Ltd., Shanghai Automotive Industry Corporation Motor, Volvo Cars, and Volkswagen.
Both companies have agreed to actively communicate and expand the supply of separators with technological capabilities, quality, and price competitiveness in the future. They also plan to build a mid-to-long term strategic cooperative relationship in the Chinese electric vehicle market, and expect to continue their collaborative relationship in other countries as well.
Sunwoda was founded in 1997 and began its EV battery business in 2008. Currently, it is the 9th largest EV battery producer in the global market and 5th in China in terms of market share.
Last year, Sunwoda went public on the SIX Swiss Exchange, and the company is actively preparing to enter the European market, with plans including building a battery facility in Hungary. Currently, Sunwoda has an annual battery production capacity of 40 GWh and plans to scale up to 138 GWh by 2025.
SKIET has factories in South Korea, China, and Poland, and is considering entering the North American market. The company expects to benefit from the US Inflation Reduction Act (IRA) and anticipates calls from other potential customers in the U.S. and Europe.
“We hope that the partnership with Sunwoda, a leading global EV battery manufacturer, will further accelerate the growth of both companies,” said SKIET’s Head of LiBS Marketing Office Seo Jung-heun. “SKIET not only expects to continue the global market collaboration in China, but also in Europe, where Sunwoda is preparing to expand, as we have battery separator factories in both regions.”
Seo also emphasized, “In such a rapidly changing business environment, SKIET will lead the global separator market through full-fledged market expansion and diversification of customer portfolios starting this year.”
