Latest news with #SKIET
Yahoo
22-05-2025
- Automotive
- Yahoo
Gotion to commence construction of Morocco gigafactory
Gotion Power Morocco, a branch of the Sino-European electric vehicle (EV) battery manufacturer Gotion High Tech, plans to commence construction of its gigafactory in Morocco soon, reported Reuters citing the company's Moroccan head Khalid Qalam. The move follows an investment agreement signed in June 2024 between Gotion High Tech and the Moroccan government. Planned to be built near Kenitra in northwestern Morocco, the proposed gigafactory is expected to mark the first of its kind on the African continent. It involves a total investment of $6.5bn. Qalam was cited by the news agency as saying at an industry conference in Rabat, Morocco, that the groundwork for the site had been finalised. He stated that the facility is expected to begin production in the third quarter of 2026. The project's initial phase will involve an investment of $1.3bn and deliver a production capacity of 20GW. Qalam noted that the company had reached an agreement with the Moroccan government to eventually expand capacity to 40GW in a second phase, though no timeline was disclosed. Beyond battery manufacturing, the facility will also produce cathodes and anodes. Qalam said the intention is to export the majority of production to Europe. "We have already received orders from many European car manufacturers," Qalam added. SK IE Technology Company (SKIET), an EV battery materials manufacturer belonging to South Korea's SK Group, signed a preliminary agreement to supply materials to Gotion High Tech Company. The deal provides for SKIET to supply separator materials for Gotion's EV battery and ESS plants located in the US and Europe. "Gotion to commence construction of Morocco gigafactory – report" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Korea Herald
10-04-2025
- Automotive
- Korea Herald
SKIET secures battery separator deal in North America
SK IE Technology Co., a lithium-ion battery separator producer under SK Innovation, said Thursday it has secured an agreement to supply battery separators sufficient to power 300,000 electric vehicles in North America. While the details, such as the size of the deal and the client's name, remain undisclosed, SKIET noted that the supply is expected to be produced at either its Jeungpyeong facility in North Chungcheong Province or its plant in Dabrowa Gornicza, Poland. Separators are critical materials that separate a battery's anode from its cathode to ensure the smooth flow of electricity. The company anticipates a further increase in separator supplies, capitalizing on the escalating trade war between the US and China. The second Donald Trump administration recently imposed a total tariff of 104 percent on Chinese goods. Chinese companies, including Shanghai Energy New Materials, currently dominate the global separator market. According to market tracker SNE Research, China's market share in the battery separator industry was 88.8 percent in the fourth quarter of last year. If Washington–Beijing tariff tensions continue, demand for Korean separators will likely increase, as only a few companies in Korea and Japan manufacture separator products, according to SKIET. Following a shift in the power dynamics of the battery materials sector, SKIET has signed a long-term separator supply deal for prismatic lithium iron phosphate batteries worth 291.4 billion won ($199.8 million) with a global client. In addition, it is negotiating with multiple companies in North America and Europe to supply separators for EV and energy storage system batteries. 'Our customer diversification strategy, focusing on the North American region, is leading to visible outcomes,' said an SKIET official. 'This separator supply agreement increases the company's facility utilization rates as well as boosts sales volume, which is expected to significantly improve our profitability.' Last year, SKIET's sales revenue dropped 66.4 percent to 217.9 billion won from the previous year, turning to a loss of 244.4 billion won, primarily due to a slowdown in demand for EVs.
