Choi Mun-ho asserts sodium-ion batteries will outperform China's technology

Choi Mun-ho, CEO of ECOPRO BM, said, "Ecopro's sodium-ion battery technology will be able to compete against China."

Choi spoke with reporters on the 5th at the country's largest battery industry exhibition, "Interbattery 2025," held at COEX in Gangnam, Seoul. Sodium-ion batteries use sodium as the main raw material instead of lithium, and ECOPRO BM was selected last year as the lead organization for a project supported by the Ministry of Trade, Industry and Energy. He noted, "We are preparing rapidly regarding sodium-ion batteries," adding that, "It is still under discussion with which customers and in what manner we will proceed."

In response to a question about the unique features of the all-solid-state battery materials being developed by Ecopro, Choi said, "The most critical material in an all-solid-state battery is the electrolyte. Ecopro has been developing a sulfide-based solid electrolyte called argyrodite since three years ago, and the results of the project are currently promising at the pilot (laboratory) stage, so we are reviewing mass production starting this year. If everything goes as planned, we expect to begin mass production in 2026."

Regarding the mass production schedule of the factory recently built by Ecopro in Hungary, he said, "Hungary has a production capacity of about 54,000 tons based on three lines. Currently, it is in the commissioning phase, and once verification is completed, commercial production is expected to start from the end of this year."

Regarding funding issues, he stated, "The estimated investment needed this year is about 150 billion won domestically and 350 billion won abroad," adding that, "As of the end of last year, the company had secured about 500 billion won in cash, and we are set to raise an additional 600 billion won through policy funds, so there are no issues with cash flow."

Ecopro Group focused on introducing the roadmap for the integrated cathode material corporation being established in Indonesia at this exhibition. Ecopro's integrated cathode material corporation in Indonesia will be established in partnership with Chinese company Ganfeng Lithium (GFL), which has secured a large amount of minerals. They plan to produce cathode materials at significantly reduced prices by economically securing nickel, which constitutes the largest portion of the cost structure of nickel-rich cathode materials.

Ecopro has begun preparatory work under the plan to start construction of its factory as early as the second half of this year, with plans to produce prototypes by the end of 2026. The first phase aims for a production capacity of about 50,000 tons, with a long-term goal of expanding to 200,000 tons.

Choi commented on the timing of Lee Dong-chae's return as chairman, saying, "Lee Dong-chae, a senior advisor, is a founding member and largest shareholder, providing insights that penetrate the entire family business." However, he added, "It is difficult to specifically comment on the timing of his return."

He said regarding revenue improvement, "We are preparing to surpass the break-even point in the first half of this year and subsequently continue to generate profits."

He explained, "The effect of clearing inventory held by battery cell and finished vehicle manufacturers, along with the effect of new vehicle launches, will create conditions to recover production levels."

Interbattery is hosted by the Ministry of Trade, Industry and Energy and co-organized by the Korea Battery Industry Association, COEX, and the Korea International Trade Association. It first took place in 2013 and is now in its 13th year.