Lotte Aluminium to invest in an aluminium anode foils production plant in Hungary

On 25th February’20, Lotte Aluminium, the largest comprehensive aluminium packaging material company of South Korea, made public that it will invest aluminium anode foils production plant for secondary batteries in Hungary.

Lotte Aluminium plans to invest KRW 110 billion in an industrial complex in Tatabanya, Hungary. The plant is projected to complete within the first 6 months of 2021 to produce aluminium anode foils for secondary batteries, to use equipped in eco-friendly electric vehicles.

The rise of global eco-friendly policies to regulate the reduction of carbon dioxide 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 an outcome, the electric vehicle market is forecasted to grow at a rapid pace and demand for secondary batteries, a vital component of electric vehicles, is also expected to increase.

As per the announcement, Lotte Aluminium is planning to build a plant on 60,000 square metres of land inside the Tatabanya industrial complex in Hungary, where eco-friendly automotive infrastructure is being built to manage with a growing demand for electric vehicle batteries, centring on global eco-friendly policies.

The construction is set to begin in April’20 and to be completed as planned by the first half of 2021. The production plan of aluminium anode foils for secondary batteries for electric vehicles is estimated at 18,000 tons per year and distributes them to various companies in Europe.

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