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Supply Chain

Battery supply chain: Semcorp set to open 1st factory beyond China

Company has global aspirations but faces hurdles to winning over U.S., European customers

A Semcorp subsidiary's factory in Shanghai. The planned Hungary factory will be the company's first outside China. (Photo provided by Semcorp)

DALIAN, China/TOKYO -- China's Semcorp, the world's leading supplier of a key component in electric vehicle batteries, is poised to start production overseas with a goal of raising its global market share to 50% by 2025.

The factory in Hungary is near completion and slated to start operations within the year, Semcorp said. The company, formally known as Yunnan Energy New Material, has invested about 340 million euros ($365 million) in the facility.

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