Doosan Solus said Monday that its subsidiary in Hungary had won a supply contract to provide 100 billion won ($82 million) worth of battery foil, used in electric cars, to a global battery manufacturer.
According to the company, Doosan Corporation Europe clinched the four-year deal from 2021 to 2024. It is the second such deal for the overseas branch, the first having been signed around the end of last year.
The South Korean copper manufacturer said the two contracts account for about 80 percent of the production capacity of its battery foil plant in Hungary, which is currently under construction. The building will be completed in the first half of this year.
Doosan Solus said it aims to incrementally increase its annual production to meet market demand, to 50,000 tons from the current 10,000 tons.