Donghwa Electrolyte Establishes New Electrolyte Production Facility in Tennessee, USA
First U.S. Factory... Expanding Influence in North American Battery Materials Market
66,000㎡ Site... Completion Scheduled for First Half of 2024
[Asia Economy Reporter Kwak Minjae] Dongwha Electrolite, a subsidiary of Dongwha Enterprise, announced on the 18th that it has finalized the establishment of a new electrolyte production base in Tennessee, USA, and completed the setup of its local corporation.
The new production facility will be built on a site of approximately 66,000㎡, with construction starting this year and scheduled for completion in the first half of 2024.
Dongwha Electrolite plans to expand its influence in the North American battery materials market centered on the Tennessee production base, which will be its first factory in the United States. Currently, Dongwha Electrolite operates production bases in Hungary, China, and Malaysia, expanding its global market share primarily in Europe and Asia.
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Lee Si-jun, CEO of Dongwha Electrolite, stated, “Driven by the explosive growth of the North American battery market centered on the United States, we anticipate an increase in demand for the core material, electrolyte, and have decided to make aggressive investments. We will focus on securing differentiated competitiveness in the global battery materials market based on our technological capabilities.”
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