On December 24, Yunnan SEMCORP announced that its Hungarian subsidiary, SEMCORP Hungary Kft., has signed a material supply contract for lithium battery separators with Ultium Cells LLC, a joint venture between LG Energy Solution and General Motors. The contract is valued at no more than $66.25 million (US) and will be effective from January 1, 2025 to December 31, 2025.
Based on the projected contract amount, the supply scale is expected to reach nearly 150 million square meters. The separators will primarily be produced at the SEMCORP’s facility in Hungary and shipped to Ultium’s US battery plants.
In addition to Ultium, SEMCORP’s Hungarian base will also supply separators to Tesla’s 46-series cylindrical cell plant in the US and ACC’s battery factory in France.
With the gradual establishment of production capacity in Hungary by companies such as CATL and EVE Energy, along with the European Battery Directive’s demand for localized production of lithium materials, SEMCORP’s Hungarian plant is also set to supply Chinese battery manufacturers in the future.
Source: WeChat Official Account—鑫椤锂电
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