Halla Holdings Makes Strategic Investment in Secondary Battery Separator Specialist Company
100 Billion KRW Investment in WCP for Manufacturing and Selling Secondary Battery Separators
[Asia Economy Reporter Yu Je-hoon] Halla Holdings announced on the 16th that it has made a strategic investment in WCP, a company specializing in the manufacturing and sales of secondary battery separators. The investment amount is 100 billion KRW.
This investment was carried out by injecting capital into its wholly-owned subsidiary Weco (100%), and the investment corresponds to a 90.74% stake in Next Level No.1 Private Equity Fund (PEF) established by No & Partners.
WCP is a company specializing in the production of secondary battery separator materials for electric vehicles. The company possesses proprietary technology in polymer film manufacturing, and Halla Holdings believes that WCP is recognized as having higher competitiveness in production compared to Asahi Kasei, the world’s number one in this field.
WCP, which is preparing a European production base together with Samsung SDI aiming for mass production in 2024, plans to apply for preliminary listing inspection by the end of this year in preparation for an initial public offering (IPO) in the first half of next year.
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Meanwhile, Halla Group is expected to continue strategic cooperation such as establishing a joint sales network between Halla Holdings and WCP based on this investment.
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