Title | LS Materials begins construction of EV parts plant in Gumi, aiming for mass production early next year |
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Date | 2024-04-17 |
Photograph) Groundbreaking ceremony for HAIMK EV aluminum parts factory held at Gumi National Industrial Complex in Gyeongbuk on the 17th. (From the second left) LS Materials CEO Hong Young-ho, LS Cable & System CEO Koo Bon-kyu, HAI CEO Rob Van Gils, Gyeongbuk Province Deputy Governor Kim Hak-hong, Gumi City Mayor Kim Jang-ho, and Gumi City Council Chairman Ahn Joo-chan.
■ To produce high-strength, lightweight aluminum parts through cooperation with global leader
■ To achieve sales of KRW 200 billion in 2027 by producing parts for 300,000 electric vehicles
■ To achieve early market entry by increasing proportion of aluminum parts for lightweight EVs
LS Materials announced on the 17th that its subsidiary HAIMK (CEO Cho Jeong-woo) has held a groundbreaking ceremony for a factory producing aluminum parts for electric vehicles (EVs) at the Gumi National Industrial Complex in Gyeongbuk Province.
The factory will mass-produce battery case parts for about 300,000 EVs starting in the first quarter of next year. This case is a high-strength aluminum part, without steel reinforcement material, that protects the battery from external shock.
"This part is the only product in Korea that meets the quality standards of automakers," said Hong Young-ho, CEO of LS Materials. "We expect sales of more than KRW 200 billion in 2027."
HAIMK is a joint venture established in 2023 by LS Materials and the Austria's HAI, the global leader in aluminum parts for EVs. HAI supplies its products to European EV automakers such as Daimler and BMW.
"Automakers are increasing the proportion of aluminum components to reduce the weight of EVs. We plan to expand our applications starting with battery case components and pursue early entry into related markets," a company official said.
The company plans to invest approximately KRW 75 billion to build a factory with a total floor area of 16,305 m2 on a site of 60,956 m2.
The groundbreaking ceremony was attended by LS Cable & System CEO Koo Bon-kyu, LS Materials CEO Hong Young-ho, HAI CEO Rob Van Gils, Gyeongbuk Province Deputy Governor Kim Hak-hong, Gumi Mayor Kim Jang-ho and Gumi City Council Chairman Ahn Joo-chan.