Copper Foil Production
SK nexilis, an SKC subsidiary investing in copper foil for secondary batteries, announced on July 31 that they have signed a business agreement on July 28 to explore the establishment of a joint venture with Toyota Tsusho, a trading affiliate of the Toyota Group, to produce and supply copper foil in the North American market.
SK nexilis and Toyota Tsusho are planning to establish a copper foil production corporation in North America through joint investment and collaborate for the long-term manufacturing and supply of copper foil in the North American market.
The two companies will also cooperate in the supply of key raw materials. Toyota Tsusho, which has been conducting various secondary battery raw material-related businesses, including the supply of lithium from Argentina, is expected to facilitate a smooth supply of copper foil raw materials needed for SK nexilis’ North American production facilities.
The battery production volume in North America, where SK nexilis and Toyota Tsusho are considering establishing a joint investment company, is expected to explode from 2025. However, the local production volume of copper foil in North America is less than 1,000 tons per year, which is why a shortage of copper foil supply is rapidly anticipated.
SKC has taken a step closer to its goal of establishing a global production system with an annual capacity of 250,000 tons, including North America. Toyota Tsusho, based on this agreement, also laid the foundation to supply high-quality copper foil locally.