New Plant for Lithium Salt Production
Duksan Electera, a Korean manufacturer specializing in secondary battery electrolytes, has entered into an exclusive agreement with Singapore-based Visionary Energy. This partnership focuses on producing lithium salt, a crucial component in electric vehicle battery production, in Morocco. Visionary Energy plans to establish a lithium salt factory in Morocco by 2026, targeting an annual production capacity of over 30,000 tons.
Supply to DS Electera and Global Expansion
A significant portion of the Moroccan factory’s lithium salt production will be supplied to DS Electera. This deal marks a key milestone in the operation of DS Electera’s North American facility, providing a stable raw material source and addressing global supply risks associated with lithium salt.
Background and Industry Context
DS Electera, part of the Korean Duksan Techopia Group, recently finished building an electrolyte manufacturing plant in Gongju, Korea, with a capacity of 10,000 tons annually. Additionally, the company is constructing a larger facility in Tennessee, USA, with a 60,000-ton capacity, set to commence operations in March 2024. These initiatives aim to strengthen DS Electera’s global market position in electrolyte production.
Strategic Significance and Industry Impact
This collaboration between Duksan Electera and Visionary Energy is seen as a strategic maneuver to dominate the secondary materials industry for batteries. The agreement ensures a consistent supply of essential raw materials, vital for DS Electera’s expansion and stability in the highly competitive electric vehicle battery market.