Lotte Chemical has established a joint venture with Lotte Aluminium to build an anode foil plant in Kentucky by 2025. Anode foil is a key material for electric vehicle batteries. The two companies will invest a total of USD 252 million for the factory, with Lotte Chemical owning 70% and Lotte Aluminium the remainder. Lotte Chemical plans to contribute to the localization of Korean battery companies in the United States through establishing stable partnerships for domestic battery manufacturers with prompt customer support and delivery stability.
Lotte Chemical has established a joint venture with Lotte Aluminium to build an anode foil plant in Kentucky by 2025. Anode foil is a key material for electric vehicle batteries. The two companies will invest a total of USD 252 million for the factory, with Lotte Chemical owning 70% and Lotte Aluminium the remainder. Lotte Chemical plans to contribute to the localization of Korean battery companies in the United States through establishing stable partnerships for domestic battery manufacturers with prompt customer support and delivery stability.
