Factories for 'Electric Vehicle Safety Parts' Emerging in Ulsan... Ulsan City Attracts New Investment

NanoTeam Co., Ltd., a Secondary Battery Safety Device Parts Company, Signs MOU

23.2 Billion KRW Investment, Production of Battery Thermal Runaway Prevention Pads

Nano Team Co., Ltd., a secondary battery safety device parts company, is building a new production plant in Ulsan.

On the 24th, Ulsan City announced that it secured an investment from Nano Team Co., Ltd., a thermal management material company for electric vehicles, for the establishment of a "production plant for thermal runaway suppression pads for electric vehicle batteries."

Following the successful attraction of investment for the establishment of Shinheung SEC Co., Ltd.'s Ulsan plant, a secondary battery safety device parts company, on the 7th, Ulsan City has achieved another success.

Nano Team Co., Ltd. is a company specialized in reducing human and property damage caused by the increasing number of electric vehicle fires and enhancing the safety of electric vehicles.

The signing ceremony for the "Memorandum of Understanding on Investment for the Establishment of a Thermal Runaway Suppression Pad Plant for Electric Vehicle Batteries" between Ulsan City and Nano Team Co., Ltd. will be held at 3 p.m. on the 24th in the mayor's office on the 7th floor of the main building of City Hall, attended by Ulsan Mayor Kim Doo-gyeom and Nano Team CEO Choi Yoon-sung, among others.

According to the memorandum of understanding, Nano Team Co., Ltd. will establish a production plant for thermal runaway suppression pads to supply flame-retardant materials for the next-generation electric vehicle dedicated platform that Hyundai Mobis will produce starting in 2025.

A total investment of 23.2 billion KRW will be made, with construction starting in September on the Ulsan plant site located in the Buk-gu Mobile Tech General Industrial Complex, with an annual production capacity of 12,000 tons, and completion scheduled for September 2024.

When hiring new personnel necessary for the operation of the new plant, Ulsan citizens will be given priority employment, and employees will be encouraged to relocate their residence to Ulsan.

Additionally, during the construction of the plant and establishment of equipment, local companies will be actively utilized, and Ulsan City and Nano Team will mutually cooperate to create jobs and revitalize the economy.

Ulsan City will continuously cooperate with Nano Team Co., Ltd. to ensure smooth progress of the new production plant investment and provide administrative support such as expedited permits and approvals.

Choi Yoon-sung, CEO of Nano Team Co., Ltd., said, "We are pleased to have the opportunity to contribute to the development of Ulsan through this investment," adding, "If additional production facilities are needed due to overseas market expansion, we plan to invest in Ulsan as well."

Ulsan Mayor Kim Doo-gyeom stated, "We will continue to attract companies that can strengthen the electric vehicle industry ecosystem in Ulsan and strive to develop Ulsan into a world-leading future car city."

Nano Team Co., Ltd., established in 2016, is a specialized company in thermal management materials for electric vehicle batteries, headquartered in Daejeon. Since 2017, it has been producing and supplying electric vehicle heat dissipation materials such as gap fillers and gap pads for battery systems of eco-friendly mobility and is a KOSDAQ-listed company.

The thermal runaway suppression pads produced by this company are applied between electric vehicle battery cells and between cells or cover the entire battery.

They are flame-retardant materials that play an important role in preventing the spread of fire and are essential materials that comply with the electric vehicle safety standard (R100.03) established by the United Nations Economic Commission for Europe (UN ECE).

Ulsan City Hall.

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