Umicore to triple capacity for rechargeable battery cathode materials by 2018

Umicore announced today an acceleration of its capacity expansion investments for NMC (nickel manganese cobalt) cathode materials. The acceleration is required to meet a surge in demand for materials used in hybrid and electric vehicles.

The expansion program entails investments of some € 160 million over a period of three years at the company’s existing facilities in Cheonan (South Korea) and Jiangmen (China), as well as greenfield investments on adjacent land in both locations. Umicore will deploy its latest generation of proprietary production technologies which will enable the company to triple existing capacity by the end of 2018 across a broad range of material grades. These are in compliance with the very highest quality standards for the automotive industry. The new capacity should start coming on stream in the second part of 2017.  

Vehicle electrification is being driven by the need to reduce CO2 emissions and improve air quality. In many regions this is being supported by ambitious emission legislation. The number of electrified vehicle models being launched has been surging in recent months and the penetration of these vehicles, ranging from mild hybrid cars to full electric models, is projected to grow at an increasingly fast pace. There is also a trend towards electrification of vehicles used for public transportation such as electric buses. Umicore’s NMC cathode materials are key ingredients in enabling the improvements required for battery technology to increase driving range and reduce the total cost of electrified vehicle ownership.

Marc Grynberg, CEO of Umicore, commented: “We are excited by the acceleration of demand and, thanks to the hard work of our teams in the past several years, we are well prepared to add significant capacity fast in support of our customers’ growth. Umicore has a unique position in cathode materials and these investments underscore our ambition to be a global leader in materials that enable clean mobility. We are proud to be playing this role in sustainable transportation.”


Marc Grynberg will host a conference call today at 10:30 AM CET to address your questions. The conference call can be accessed using following dial-in number:

Country Local number
Belgium +32(0)2 404 06 60
Germany +49(0)69 2222 10621
Netherlands +31(0)20 716 8296
UK +44(0)20 3427 1919
USA +1646 254 3363
International +44 20 3427 1919

Dial in 5-10 minutes prior to the start time using the Conference ID 9737042. Please state your first name, last name and company name before entering the conference.

Chinese version 

Japanese version

Korean version


      Umicore uses certain monitoring and tracking technologies such as cookies. These technologies are used in order to maintain, provide and improve our services on an ongoing basis, and in order to provide our web visitors with a better experience.

      By clicking on the "Accept all" button you agree to the use of these cookies while using the website. For further information regarding how we use cookies and other tracking technologies, please see section 11 of our website privacy notice

          Necessary cookies are essential and help you navigate our website. This helps to support security and basic functionality and are necessary for the proper operation of our website, so if you block these cookies we cannot guarantee your use or the security during your visit.

          Cookies that help us to understand the behaviour of users of our website. This allows us to continuously improve our website to provide the best information in support of our project aims. These cookies also help us understand the effectiveness of our website. For instance these cookies tell us which pages visitors go to most often and if they get error messages from web pages.

          Cookies that deliver content to you based on your interests, which are assumed from your browsing history. Most Targeting Cookies track users via their IP address and, thus, may collect some Personal Data. Personal Data collected by Targeting Cookies may be shared with third parties, such as advertisers.