Lightron Enters LFP Battery Manufacturing and Sales Business to Strengthen Future Growth Engine

(Left) Kim Young-il, CEO of ELLEVATA, (Right) Park Chan-hee, CEO of Lightron. / Photo by Lightron

KOSDAQ-listed company Lightron announced on the 8th that it has signed a memorandum of understanding for business cooperation with Eelabata (CEO Kim Young-il) and is entering the secondary battery business.

Lightron has been manufacturing optical transceivers, a core component of the optical communication industry, and selling them to major domestic and international telecommunications equipment companies. Following recent new business ventures such as molybdenum mine development and lithium carbonate procurement, Lightron has decided to join hands with Eelabata, which operates in the secondary battery business, to strengthen future growth engines and promote the LFP battery cell business.

Eelabata is a company that manufactures and sells LFP cylindrical batteries developed with German technology. It has established factories in Turkey and Germany and has completed preparations to produce improved high-performance LFP batteries starting from December this year. The batteries produced in the future will mainly be sold in the European region.

The company is also participating in Saudi Arabia's Vision 2030 project, which aims to improve the oil-centered industrial structure. Recognized for its LFP battery manufacturing technology, it was selected as a resident company in the Jazan industrial complex, and the land acquisition contract ceremony is scheduled for November. A joint venture will be established with Saudi government capital to build a manufacturing plant with three production lines.

Additionally, through a joint venture in Mumbai, India, Eelabata is preparing to establish an LFP battery factory with more than two production lines on approximately 30,000 pyeong of land secured. Batteries produced locally will be sold within India through cooperation with the Indian government. A project to produce electric motorcycles, electric rickshaws, and electric drones domestically and supply them to India is also underway.

Separately from LFP batteries, Eelabata is also testing next-generation all-solid-state batteries, which are on a different level from existing secondary batteries. After completing production facility preparations, trial production will begin in the first half of 2024, and the batteries will be introduced to the market.

A Lightron official stated, “We will enhance our capabilities by collaborating with Eelabata, which is solidifying its foundation in the secondary battery business,” and added, “We will not spare investment to become a leading company in not only LFP batteries but also next-generation battery businesses.”

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