Solus Advanced Materials will diversify its materials business and production base, which used to be centered on electric vehicles. They plan on establishing an overseas production to produce battery foils for semiconductors and telecommunications, in order to achieve 2.3 trillion won in sales in 2026.
Solus Advanced Materials announced on the 27th that they will generate 2.3 trillion won in battery foil sales in 2026, based on major overseas production bases. Solus Advanced Materials is the only battery foil manufacturer that has established production bases in Europe and North America. Other domestic battery pack companies such as SK Nexilis and Iljin Materials are also preparing production bases in Europe and the United States.
Battery foils are key materials for semiconductors and batteries. Semiconductors play a role in actualizing integration and miniaturization. It is used in memory, graphic processing units (GPU), application processors (AP), etc. Solus Advanced Materials’ semiconductor battery foil passed quality approval by SK Hynix in November last year. They plan to supply semiconductor products to its battery foil plant in Luxembourg in Europe. This factory produces battery packs for information and communication technology (ICT) devices such as semiconductors, wireless communication, and aerospace. If battery cells for semiconductors are supplied, sales are expected to begin early next year.
Solus Advanced Materials’ product portfolio is expected to expand when it starts mass producing battery foils for semiconductors. Solus Advanced Materials is planning to expand their production facilities in Hungary and start construction of factories in North America. In Hungary, customers such as LG Energy Solution, Samsung SDI, and SK On were located as the largest consumers of battery foils. Solus Advanced Materials is planning to expand its Hungarian plant from about 50,000 tons to 100,000 tons by 2026, to meet with the demand for electric vehicle batteries. The North American plant also completed the site purchase. Construction will begin in the second half of this year and an annual production base of 17,000 tons will be established in 2024.
Solus Advanced Materials, which acquired the battery foil business from Doosan Group, began generating sales from their battery foil business since its Hungarian plant last year. They are expanding their battery foil business portfolio to include semiconductors and telecommunications, as well as electric vehicles, and they are expanding their customers to overseas companies. They are expanding their portfolio to companies specializing in high-tech materials to promote growth.
By staff reporter Ji-woong Kim (jw0316@etnews.com)