The company has finished testing its new high-voltage mid-nickel (HVM) cathode material and is getting ready for large-scale production. This move is in response to the growing demand from car makers for more affordable battery parts.
High-nickel cathodes, utilized in premium electric vehicle (EV) batteries, contain over 90% nickel, while mid-nickel cathodes contain around 60%. Since nickel makes up about 70% of the cost of battery materials, reducing the nickel content helps lower costs.
HVM cathodes differ from regular mid-nickel cathodes by its special single-crystal design. This improves the battery's performance at high voltages, while also increasing its lifespan and safety. The new design also works better in cold temperatures, which is a problem with regular mid-nickel batteries. This means they can provide steady power even in cold weather.
EcoPro expects to have a strong cost advantage because of its investment in Indonesia, where it can access high-quality nickel at lower prices. The company has invested about 700 billion won ($477.6 million) in four nickel smelters in the Morowali Industrial Park on Sulawesi Island.
EcoPro is planning a second-phase project at a nearby park to produce about 66,000 tons of nickel every year.
The company is talking with major global car makers and battery manufacturers to supply mid-nickel products and is getting ready to start mass production in 2027.
EcoPro will build its first mid-nickel production site in Pohang, South Korea, and later expand the technology to its Hungary plant to target the European market.
The Hungary plant covers 440,000 square meters and currently has three production lines with a yearly capacity of 54,000 tons. As demand increases, EcoPro plans to add three more production lines with similar capacity.
Executive Statement
According to an official from EcoPro BM, by applying their proprietary single-crystal cathode technology to mid-nickel materials, they have been able to reduce microcracks that occur at high voltages and enhance overall performance. Single-crystal cathodes consist of particles with a continuous crystal structure, which helps prevent breakdown during repeated charge and discharge cycles, resulting in greater long-term stability.