Solus Advanced Materials Signs Battery Foil Supply Agreement with China’s CATL

First Korean Battery Foil Supplier to CATL's European Plants Starting Next Year

Solus Advanced Materials announced on June 2 that it has successfully signed a battery foil supply agreement with CATL, the world’s largest electric vehicle battery manufacturer based in China. The company will supply battery foil produced at its Hungary plant to CATL’s battery factories located in Europe.

Solus Advanced Materials Hungary Battery Foil Factory Exterior. Provided by Solus Advanced Materials

In addition, both companies have left open the possibility of future collaboration on new product development, based on Solus Advanced Materials’ competitive edge in local battery foil supply.

CATL is the world’s largest battery company, with a global market share of approximately 40% based on electric vehicle battery usage in the previous year. Reflecting this scale, CATL produces batteries in various regions around the world and is especially accelerating its expansion of local production in Europe. Since 2022, the company has been operating its first production base in Erfurt, Germany, with an annual capacity of 14 gigawatt-hours (GWh). Within this year, it plans to begin operation of its second large-scale production plant in Debrecen, Hungary, with an annual capacity of 100 GWh. Next year, CATL aims to launch its third European battery factory in Spain through a joint venture with Stellantis.

Solus Advanced Materials currently operates the only battery foil production plant in Europe. With globally competitive battery foil quality, local supply capabilities, and rapid response based on its technological and manufacturing strengths, the company has successfully secured a series of new orders this year.

Kwack Geunman, CEO of Solus Advanced Materials, stated, “This new collaboration with CATL, a global powerhouse in the battery market, once again demonstrates our global competitiveness. Through this new partnership, we will further accelerate innovation in battery foil technology and actively cooperate to help CATL stabilize its local supply chain in Europe, thereby enhancing customer satisfaction.”