IL (CEO Song Seong-geun) announced that it signed a memorandum of understanding (MOU) on investment and cooperation with South Chungcheong Province and Cheonan City at the 'Joint MOU Signing Ceremony for Attracting Investment from Excellent Companies' held at the South Chungcheong Provincial Office on October 13.
Through this agreement, IL will actively pursue new investments, focusing on the establishment of its third factory in Cheonan. South Chungcheong Province and Cheonan City will provide administrative and financial support to support the company's stable business expansion. The 4,423㎡ site required for the factory construction has been secured near the Cheonan Smart Factory, and the related permitting and approval procedures have been completed.
IL's third plant is expected to serve as a key production base for the commercialization of all-solid-state batteries. In particular, a production line for lithium metal anode sheets for next-generation batteries will be built, which is also aligned with South Chungcheong Province's recently announced strategy to foster the secondary battery industry. South Chungcheong Province plans to invest 65 billion won in the future to establish a regional battery industry cluster.
Additionally, IL plans to introduce a silicon lens lamp production line for mobility vehicles, based on its optical technology, to this new plant. Through this, IL aims to strengthen its dual battery and lamp businesses, while simultaneously diversifying its technology portfolio and improving production efficiency.
Previously, IL had explored the possibility of overseas cooperation on lithium metal cathode technology through technology exchanges with a group of former U.S. lawmakers, and plans to use this MOU as an opportunity to accelerate the overseas expansion of its all-solid-state battery business by linking its domestic production base with a global cooperation network.
“The Cheonan Plant 3 is a strategic base for leading the next-generation battery market,” said IEL CEO Song Seong-geun. “By integrating the battery and lamp production lines, we will strengthen our technological prowess and productivity, and enhance our ability to respond to the global market.”
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