Umicore expands cathode materials capacity in South Korea, China

Umicore expands cathode materials capacity in South Korea, China

10:17 AM, 28th April 2016
Umicore expands cathode materials capacity in South Korea, China

BRUSSELS, BELGIUM: Umicore NV said that it will invest €160 million over a period of three years for the production capacity expansion of nickel manganese cobalt (NMC) cathode materials in South Korea and China. The acceleration is required to meet a surge in demand for materials used in hybrid and electric vehicles.

Umicore will deploy its latest generation of proprietary production technologies which will enable the company to triple existing capacity by the end of 2018 across a broad range of material grades. These are in compliance with the very highest quality standards for the automotive industry. The new capacity comes on stream in the second part of 2017. 

Vehicle electrification is being driven by the need to reduce CO2 emissions and improve air quality. In many regions this is being supported by ambitious emission legislation. There is also a trend towards electrification of vehicles used for public transportation such as electric buses.

Umicore’s NMC cathode materials are key ingredients in enabling the improvements required for battery technology to increase driving range and reduce the total cost of electrified vehicle ownership.

“Umicore has a unique position in cathode materials and these investments underscore our ambition to be a global leader in materials that enable clean mobility. We are proud to be playing this role in sustainable transportation,” said Marc Grynberg, CEO of Umicore.

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