Ecopro Innovation said on Thursday it signed a long-term lithium hydroxide supply contract with a global automaker. The deal covers a total of 12,000 tonnes over 4 years, equivalent to about 200,000 electric vehicles. It is the first time Ecopro Innovation has signed a lithium hydroxide supply contract with an automaker. The company stressed that it has diversified its customer base by expanding sales to auto OEMs this year, following long-term supply deals with Samsung SDI in 2024 and SK On in 2025.

The company said its local production base in Debrecen, Hungary, and its closed-loop system helped secure the order. Ecopro Innovation can process and supply lithium directly in Hungary, making it easier to respond to the EU Critical Raw Materials Act (CRMA). Lithium recycling through the closed-loop system can also address carbon footprint regulations.

The contract is expected to add momentum to the company’s performance recovery. Ecopro Innovation posted an operating profit of 6.4 billion won in the fourth quarter of last year, returning to quarterly profitability. It also recorded revenue of 95 billion won in the first quarter of this year, maintaining profitability.

A rebound in lithium hydroxide prices is another factor brightening the earnings outlook. According to the Korea Mine Rehabilitation and Mineral Resources Corp, the lithium hydroxide price stood at $21.9 per kg as of May 20, up about 2.8 times from its low in June 2025. The industry expects lithium market conditions to enter a virtuous cycle alongside a recovery in the ESS and electric vehicle markets.

An Ecopro Innovation official said, "Normally, cell makers or cathode material makers have procured lithium hydroxide directly, but a global automaker highly rated our quality competitiveness, price competitiveness and ability to respond to global regulations, and signed a direct contract." The official added, "Using this as a foothold, we will speed up efforts to find new customers globally, including in Europe, by leveraging our Hungary production base."