Shanghai (ZXZC)- Jiangsu Dingsheng New Energy Materials Co., Ltd. ("DSXC"), a Chinese aluminum product manufacturer, announced on May 17 its wholly-owned subsidiary, Hangzhou Five Star Aluminum Co., Ltd. (“Five Star Aluminum”), has struck a deal with SK on Co., Ltd. (“SK on”), the battery subsidiary of South Korea’s SK Innovation, to provide the latter with its aluminum foil products.

Under the agreement, during the period from the second half of 2023 to 2027, SK on and its designated production bases will purchase lithium battery aluminum foil from Five Star Aluminum. The total purchase quantity is estimated to be around 32,400 tonnes, while the final quantity should be based on specific orders agreed by both parties in the future.

NCM9 battery; photo credit: SK on

As one of the main power battery suppliers in the world, SK on ranked fifth globally in 2022 with 27.8GWh power battery installed through the year, accounting for 5.4% of the world’s overall volume, according to data by the market research institute SNE Research.  

For the first quarter of this year, SK on maintained its No. 5 place in the world with a quarterly power battery installed capacity of 7.1GWh.

DXSC said that the recent agreement signing signifies SK on's recognition of the company's quality and production capacity of power battery foils. It further validates the company's competitiveness in the field of aluminum foil for new energy vehicle power batteries, providing assurance for the firm's medium- to long-term sustainable development.