EcoPro Group secures nickel supply for 1.5 million EVs

EcoPro Group is set to secure nickel supply rights sufficient for approximately 1.5 million electric vehicles, following its latest investment in a nickel smelting facility in Indonesia. The move reinforces the company's efforts to build a stable supply chain for nickel, a critical material used in battery and electric vehicle production.

As a major stakeholder in the BNSI Nickel Smelter Project, currently under construction on the Indonesian island of Sulawesi, EcoPro plans to invest 1.5 trillion Korean won in the facility. In return, the group will secure annual supply rights for 36,000 tons of nickel.

This latest commitment builds on previous investments made by EcoPro between 2022 and the present. The company has already spent a total of 800 billion Korean won to acquire stakes in four Indonesian smelters and secure long-term purchase agreements for 29,000 tons of nickel per year.

With the addition of the BNSI investment, EcoPro's total annual nickel supply rights will rise to 65,000 tons---enough to produce batteries for roughly 1.5 million electric vehicles annually.