Ecopro declared a 'transformation' to overcome the electric vehicle chasm (temporary demand stagnation) and announced three major management policies for 2025 on the 5th.
This year's three key initiatives are ▲the integrated subsidiary project for cathode materials in Indonesia ▲the merger of Ecopro Innovation and Ecopro CNG ▲strengthening research and development outsourcing.
Ecopro plans to establish an integrated production subsidiary that connects refining, precursors, and cathode materials in resource-rich Indonesia to secure cost leadership, with a decision made to establish a joint venture with China's GEM within the first quarter of this year.
The joint venture plans to supply major mineral resources like nickel at lower costs than competitors and produce cathode materials locally to supply battery cell companies and automakers. Additionally, by merging Ecopro Innovation, which processes lithium, and Ecopro CNG, which handles recycling, the company aims to enhance synergies to prepare for the post-chasm phase.
Ecopro will also enhance research and development outsourcing by internalizing technologies that can lead the market and sourcing general technologies externally. To this end, the company is establishing a technology cooperation roadmap with domestic universities and similar industries both domestically and abroad.
Ecopro founder Lee Dong-chae noted during a ceremony held at the headquarters in Ochang on the 2nd, "Now we are in an urgent crisis situation where failing to find the right path could lead to a life-or-death crossroads," and emphasized, "Without transforming all sectors of management, there is no guarantee of survival." He added, "Our survival strategy is simply to significantly lower prices and secure technology that no one can follow, which means only corporations with lower prices and higher technological capabilities compared to competitors can enter the U.S. and Europe and advance into the world."