Constellium, a France-based aluminum producer, has announced a significant investment of €30 million in its Singen, Germany facility to enhance its aluminum foil production capacity. This strategic move aims to meet the growing demand for electric vehicle (EV) battery foil applications.
In a significant development, Constellium has entered into a long-term agreement with Lotte Infracell, a subsidiary of Korea-based Lotte Aluminium. This partnership involves the supply of aluminum foil to Lotte's European facility. Lotte Infracell, which manufactures cathode foil for secondary batteries, operates plants in Tatabanya, Hungary, and Kentucky, USA.
Lotte Infracell is not only collaborating with Constellium but also providing financial support for the investment. This collaboration is set to ensure a reliable supply of high-quality foil stock, which is crucial for the burgeoning EV market in Europe.
"This collaboration will ensure a reliable supply of high-quality foil stock for our battery applications, supporting the rapid growth of the electric vehicle market in Europe," stated Yon-Su Choi, CEO of Lotte Aluminium and Lotte Infracell.
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