SKC Partners with Japan's Toyota Tsusho to Accelerate Entry into North American Copper Foil Market

Memorandum of Understanding on JV Establishment with Toyota Tsusho
Joint Investment in North American Production Corporation and Cooperation in Raw Materials Sector

SK Nexilis, an SKC subsidiary investing in the copper foil business, is accelerating its entry into the North American market through collaboration with Toyota Tsusho of Japan. Park Won-cheol, President of SKC (right), is shaking hands with Ichiro Kashitani, President of Toyota Tsusho. Photo by SKC

SKC is partnering with Toyota Tsusho of Japan to establish a system for the long-term supply of high-quality copper foil to the North American region, considered the world's largest electric vehicle market.

SK Nexilis, SKC's investment company for copper foil used in secondary batteries, signed a memorandum of understanding on the 28th with Toyota Tsusho, a trading company of the Toyota Group, to review the establishment of a joint venture (JV) for the production and supply of copper foil in the North American market. SK Nexilis and Toyota Tsusho plan to jointly invest to establish a copper foil production corporation in North America, collaborating to manufacture and supply high-quality copper foil products that meet the needs of potential customers in the North American market over the long term.

The signing ceremony held at Toyota Tsusho's headquarters in Nagoya City, Aichi Prefecture, Japan, was attended by key executives from both companies, including Park Won-cheol, President of SKC; Lee Jae-hong, CEO of SK Nexilis; Ichiro Kashitani, President of Toyota Tsusho; Akihiro Sako, Vice President; and Masaharu Katayama, COO of the Metals Division.

Battery production in the North American region, where SK Nexilis and Toyota Tsusho are considering establishing a joint investment company, is expected to increase explosively from 2025. However, local copper foil production in North America is currently less than 1,000 tons per year, and a shortage of copper foil supply is expected to become rapidly apparent.

This agreement has further accelerated SK Nexilis's global expansion. Following the commercial operation starting this year in Malaysia and the planned completion of the Poland facility next year, securing potential customers requiring large-scale quantities over the long term ahead of full-scale investment in North America is expected to establish a more stable foundation for market entry. This also brings them one step closer to their goal of building a global production system with an annual capacity of 250,000 tons, including North America. Toyota Tsusho, based on this agreement, has also strengthened its foundation to supply high-quality copper foil locally.

Both companies have agreed to mutually cooperate in securing key raw materials. Toyota Tsusho is engaged in various secondary battery raw material businesses, including lithium supply from Argentina. It is expected that SK Nexilis will be able to more smoothly procure copper foil raw materials necessary for North American production facilities. Additionally, collaboration in securing additional customers is anticipated to create synergy.

An SKC official stated, "Based on this agreement, we will proceed with successful investment in North America and establish a global production system encompassing Asia, Europe, and North America. The cooperation between SK Nexilis, which possesses the world's best copper foil manufacturing technology, and Toyota Tsusho, which has competitiveness from raw material procurement to sales of key materials for secondary batteries, will serve as a catalyst to further enhance the competitiveness of both companies in the global electric vehicle market."

This content was produced with the assistance of AI translation services.