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SK nexilis Co. is looking for a site in Europe to house a new copper foil factory that would meet the growing demand for the essential material in rechargeable batteries.
The company identified Poland as a strong candidate for its proximity to major battery factories.
SK nexilis intends to complete the construction in 2024.
The move is part of the broader plan of SK nexilis to expand its manufacturing capacity from the current 43,000 tons to over 200,000 tons a year by 2025.
SK nexilis will also start construction of a new production facility in Malaysia later this year, which would start commercial production in 2023.
The company is also considering investing in the US in line with the rapidly growing demand for EV batteries.
Copper foil is used as the anode current collector of the lithium-ion battery cell, which is used in electric vehicles.
