LS Materials Breaks Ground on Gumi Plant... EV Parts Mass Production in Q1 Next Year

"Battery Case Parts Sales Expected to Exceed 200 Billion Won"

LS Materials announced that its subsidiary, HAIMK, held a groundbreaking ceremony for an aluminum parts factory for electric vehicles (EV) on the 17th at the Gumi National Industrial Complex in Gyeongbuk. The ceremony was attended by Koo Bon-gyu, CEO of LS Cable & System, Hong Young-ho, CEO of LS Materials, Rob van Giles, CEO of HAI, and Kim Hak-hong, Deputy Governor of Gyeongbuk Province.

On the 17th, officials are taking a commemorative photo at the groundbreaking ceremony of the 'HiMK Electric Vehicle (EV) Aluminum Parts Factory' held at the Gumi National Industrial Complex in Gyeongbuk. From the second left: Hong Young-ho, CEO of LS Materials; Koo Bon-gyu, CEO of LS Cable; Rob van Giles, CEO of HAI; Kim Hak-hong, Deputy Governor of Gyeongbuk Province; Kim Jang-ho, Mayor of Gumi; Ahn Joo-chan, Chairman of Gumi City Council. / Photo by LS Materials

HAIMK is a joint venture established last year by LS Materials and HAI, Austria's leading company in aluminum parts for EVs. Approximately 75 billion KRW will be invested to build a factory with a total floor area of 16,305㎡ on a site of 60,956㎡. The factory is expected to begin mass production of battery case parts, capable of being used in about 300,000 EVs, starting from the first quarter of next year.

Battery case parts are high-strength aluminum components that protect the battery from external impacts without steel reinforcement. Hong Young-ho, CEO of LS Materials, said, "This product is the only one in Korea that meets the quality standards of automakers," adding, "We expect sales to exceed 200 billion KRW by 2027."

HAIMK recently stated that the proportion of aluminum parts is increasing in the EV lightweighting process. They also announced a goal to expand the application areas starting with battery case parts and to secure a leading position in the related market.