June 9, 2023: Toray Superior Supplies Korea (TAK) stated on June 1 that it signed a contract to amass a 70% stake in Toray Battery Separator Movie Korea (Toray BSF).
Each firms are a part of the Toray Industries group.
South Korea-based Toray BSF can be the core manufacturing base for separators equipped by the group’s Japanese operations to battery makers worldwide.
TAK stated the acquisition, for an undisclosed sum, would assist the group strengthen its battery provide chain in Korea at a time when demand for separators is predicted to select up – largely pushed by the market. in EV.
The deal will come later Journal of Power Storage It was reported in April that South Korea launched a multibillion greenback program to guard and develop its battery business, amid fears that profitable US tax breaks and incentives would tip the worldwide battery commerce steadiness. stateside.
Final month, South Korea and the EU agreed to cooperate in battery growth and provide of uncooked supplies beneath a ‘inexperienced partnership’.
In June 2022, Toray and LG Chem launched a 50-50 three way partnership firm in Hungary for the manufacturing and sale of lithium ion separator movie.
LG Chem stated it plans to amass a further 20% fairness within the enterprise from Toray 30 months later.