On the 8th, EcoPro Group announced its mid-to-long-term vision at the ‘Eco-Friendly Day’ event held at the Fairmont Ambassador Seoul in Yeouido, Seoul, marking its return after two years. The group aims to establish a production capacity of 710,000 tons of cathode materials and 255,000 tons of precursors by 2030, targeting sales of 32 trillion won and an operating profit margin of 12%. Eco-Friendly Day is an annual IR event for institutional investors and analysts, started by EcoPro in 2021. Key executives, including CEOs from EcoPro, EcoPro BM, and EcoPro Materials, presented performance analyses, management strategies, and financial goals. Former EcoPro chairman Lee Dong-chae also attended and addressed the 160 attendees.
EcoPro aims to secure market dominance in high-nickel cathode materials and plans to develop solid electrolytes, silicon (Si) anodes, OLO cathodes, and sodium-ion battery (SIB) cathodes to strengthen its technological leadership. The company intends to enhance its position in the ternary market by increasing the nickel content in its products from the current 90% to 95% and through the development of high-voltage mid-nickel products with a reduced nickel content of 60-65%.
EcoPro BM set a target of achieving 25 trillion won in sales by 2030, with 21 trillion won from high-nickel cathode materials (holding the top market share globally) and 4 trillion won from the newly developed four key materials. EcoPro Materials aims to achieve 6.3 trillion won in sales by 2030, with 700 billion won from raw material commercialization and 5.6 trillion won from expanding sales to external customers. EcoPro HN’s goal for 2030 is to generate 1.3 trillion won in sales, with 800 billion won from the environmental sector and 500 billion won from new materials.
EcoPro Group is also collaborating with China’s precursor manufacturer GEM for its Indonesia Project, establishing its third overseas production base following Canada and Hungary. This partnership will integrate smelting, precursor, and cathode material production in Indonesia, aiming to significantly reduce costs and increase competitiveness against China’s low-cost LFP (lithium iron phosphate) products. The two companies plan to sign an MOU for a joint venture by the end of the year and start construction early next year, with completion targeted for the second half of 2026. EcoPro CEO Song Ho-joon noted that the cost-saving effect of the Indonesia Project could exceed 10%.
To secure nickel, a core resource for ternary cathode materials, EcoPro has invested around 300 million dollars (4150 billion won) in GEM’s Indonesian refinery. EcoPro Materials has also acquired major shareholder stakes in GEM’s Indonesian nickel refinery, GreenEco. The group is also focusing on securing lithium by merging EcoPro CNG, which has lithium extraction technology, with EcoPro Innovation, which has lithium refining technology.
Former EcoPro chairman Lee Dong-chae stated, “Over the past 26 years, EcoPro has faced continuous challenges, but we turned each risk into an opportunity,” adding, “We will transcend crises and leap forward to create a new future by focusing on R&D, productivity enhancement, and management efficiency, which are the essence of manufacturing.”