(IANS) Samsung Engineering has said it has clinched a $135 million order to build a battery copper foil plant in Hungary.
The plant, South Korean copper foil maker Doosan Corporation Europe’s second, is set to be completed in Tatabanya Industrial Park in Hungary in 2022 and will have an annual production capacity of 15,000 tons of battery copper foil, a key component of electric vehicle batteries, reports Yonhap news agency.
In April, Doosan Corporation Europe, a wholly owned subsidiary of South Korea’s Doosan Solus, began mass production of battery copper foil in its first plant.
The first plant, built by Samsung Engineering, has an annual production capacity of 10,000 tons of battery copper foil.
Doosan Solus said it plans to increase the plants’ annual production capacity to 75,000 tons of battery copper foil, enough for batteries for about 3 million electric vehicles.
Global carmakers have been racing to go electric amid tightened regulations on emissions of greenhouse gases, which scientists say are to blame for global warming.