Investment in SK nexilis Malaysia, a Manufacturer of Copper Foil for Lithium-ion Battery Components
- Circular Economy
2025-06-18
Toyota Tsusho Corporation ("Toyota Tsusho") announces that it has entered into a share transfer agreement with SK nexilis Co., Ltd. ("SKNX"), a member of the SK Group in South Korea, and has decided to invest in its subsidiary, SK nexilis Malaysia Sdn. Bhd. ("SKNM").
The investment amount is USD 110.0 million (approximately JPY 16.0 billion).
1. Background of the investment
Demand for lithium-ion batteries is expected to further increase with the growing adoption of electrified vehicles. Toyota Tsusho positions automotive battery-related business as a pillar of growth for the next generation and is focusing on building a supply chain for automotive battery components, including copper foil.
SKNX manufactures copper foil, primarily used as cathode material in lithium-ion batteries, at multiple locations around the world. It possesses world-class manufacturing technologies and holds one of the largest global market shares.
2. Purpose of the investment
The aim of this investment in SKNM is to enable Toyota Tsusho to stably procure and supply high-quality copper foil, an essential material for automotive battery production.
SKNM utilizes 100% renewable energy-sourced electricity generated by Malaysia’s abundant hydroelectric power, at its plant. Toyota Tsusho plans to supply low-carbon, cost-competitive copper foil produced at the plant, which has an annual production capacity of 57,000 tons, to battery manufacturers primarily in Japan and North America.
In the future, Toyota Tsusho also plans to work together with SKNM to explore development of copper foil for next-generation automotive batteries, by leveraging its global network to swiftly respond to market needs.
Through this investment, Toyota Tsusho will contribute to the stable supply of copper foil, an essential component for the spread of electrified vehicles, and will work to build a global supply chain for automotive batteries.
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| From left: Toyota Tsusho President & CEO Toshimitsu Imai, SKC CEO & President Park Woncheol |
From left: Toyota Tsusho CEO for Circular Economy Division Akihiro Sago, SKNX CEO/President Lyou Kwangmin |
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| Copper foil manufacturing process at SKNX | |
Overview of SKNX
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Company name
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SK nexilis Co., Ltd |
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Location
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Jeollabuk-do, South Korea |
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Established
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November 1988 |
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Representative
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Lyou, Kwangｍin |
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Business description
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R&D, production and sales of copper foil for automotive batteries |
Overview of SKNM
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Company name
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SK nexilis Malaysia Sdn. Bhd. |
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Location
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Sabah, Malaysia |
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Established
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October 2023 |
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Representative
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Jun, Sanghyun |
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Business description
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Production of copper foil for automotive batteries |
The information in this release is current as of the date of announcement.
Please note that information may change after the date of announcement. Thank you in advance for your understanding.