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Hanwha aims for $2.3 bn revenue in battery equipment biz by 2030

Collected: 2023.12.05

Distributed: 2023.12.06

Source: Go Direct

Yang Ki-won, chief executive officer of Hanwha/Momentum

Hanwha Corp. has set a new target to achieve 3 trillion won ($2.3 billion) in revenue in the field of secondary battery processing equipment by 2030, while also venturing into the development of next-generation secondary battery processing equipment for solid-state and defense applications.

Announcing this goal, Hanwha/Momentum hosted the 2023 Hanwha Battery Day at the 63 Building in Yeouido, Seoul, on Monday. Hanwha/Momentum oversees the business related to secondary battery production equipment and factory automation facilities within Hanwha Group.

During the event, the company outlined its vision to increase revenue through the secondary battery processing equipment solutions to 1.4 trillion won by 2027 and up to 3 trillion won by 2030.

“To achieve our vision, we will establish ourselves as a comprehensive solution provider covering the entire process of the secondary battery industry,” said Yang Ki-won, chief executive officer of Hanwha/Momentum.

In contrast to some competitors specializing in specific processes, Hanwha/Momentum is building a product lineup that caters to all processes required in the battery manufacturing process.

The company is entering the realm of secondary battery processing turnkey projects by leveraging its extensive product lineup. Turnkey projects are advantageous for active secondary battery production startups in North America. The company plans to sign Letters of Intent (LOI) for acquisition with two companies early next year.

By Kim Hee-su and Minu Kim

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