Chinese cathode maker Beijing Easpring Material Technology has secured the backing of South Korean conglomerate SK for its planned plant in Finland, as it looks to enter the European battery market.
Easpring, a supplier to other battery producers such as BYD, said SK would take an up to 30% stake in its Finland operations, as part of a strategic cooperation agreement.
The deal comes following the news that Johnson Matthey would exit the battery materials business in Europe, citing high competition and . . .