Industry
SKC withdraws plan to enter secondary battery cathode materials business
SKC has cancelled its plan to enter the secondary battery cathode materials business and revised its mid- to long-term growth strategy first disclosed in September 2021. It cited a prolonged electric vehicle demand slowdown that has led to reduced investment and production across the battery industry and intensified competition. SKC said it adjusted its investment scale after reviewing long-term profitability. It will pursue an anode materials business through an equity investment in UK anode materials firm Nexeon.
