Taesung, an electronic materials company, announced on the 16th that it has signed a supply contract for composite copper foil materials with a Japanese battery company and decided to pursue cooperation in the development of related materials.
Composite copper foil is attracting attention as a next-generation material for secondary batteries, and recently, there has been a growing movement in the global battery industry to establish non-Chinese supply chains to reduce dependence on China. This contract is also reported to have been pursued as a result of a Japanese battery company reviewing suppliers capable of producing composite copper foil outside of China.
Japanese battery companies are known for their high technical standards in the material selection process, so this collaboration is considered significant in that it demonstrates Taesung has secured a level of technological competitiveness capable of participating as a supply chain partner for global battery companies.
It is reported that the company pursued cooperation with Taesung, which possesses both equipment technology and material production capabilities, while searching for a partner capable of producing composite copper foil.
Taesung has recently been fostering its composite copper foil equipment and materials business as a new growth sector and is also collaborating with a Canadian battery company on the development of composite copper foil materials. The company plans to expand its scope of cooperation with global battery companies and actively pursue entry into the next-generation battery materials market.
"As the electric vehicle and energy storage market expands, global demand for next-generation battery materials is also rapidly increasing," a company official said. "We expect this contract with a Japanese battery company to serve as a catalyst for expanding the composite copper foil material market."
In addition, they added, “Recently, we have been receiving a continuous stream of inquiries regarding composite copper foil cooperation from global battery companies in the U.S., Germany, Hungary, and other countries, and discussions are currently underway,” and “We are also considering expanding production facilities to meet future demand growth.”
With the recent growth of the electric vehicle and energy storage market, battery material companies are actively pursuing strategies to diversify their global supply chains to reduce their dependence on China.
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