- The new plant in Hungary is a 7-billion-HUF investment.
- Mass production started in July 2022 with 30 employees.
- Production capacity will increase sixfold by the end of 2023.
- The plant supplies CNT dispersions for SK On's EV batteries.
Investment and Location
Toyo Ink SC Holdings Co., Ltd. has opened a new manufacturing subsidiary, Toyo Ink Hungary LLC, in Ujhartyan, Pest County, Hungary. The 7-billion-HUF investment (approx. €17 million) is part of a long-term plan to strengthen the global CNT dispersions production network, with a total of 10 billion JPY to be invested by 2026.
Production and Capacity
The new facility produces Lioaccum™ carbon nanotube (CNT) conductive dispersions for lithium-ion battery cathodes, specifically for electric vehicles (EVs). Mass production began in July 2022 with 30 employees. Additional construction is underway to increase production capacity by six times, expected to be completed by the end of 2023. The facility operates in a 5,964 m² building on 44,806 m² of land.
Market and Supply Chain
The dispersions produced at the Ujhartyan site will be supplied to SK On, a leading South Korea-based supplier of high-energy-density EV batteries for global automakers like the Volkswagen Group. The Toyo Ink Group aims to develop the EV market into a core business, targeting annual sales of 20 billion yen.
Technological Advancements
Li-ion batteries, commonly used in modern EVs due to their higher energy capacity, benefit from the incorporation of CNTs as a conductive additive. Toyo Ink Group's unique dispersion technology replaces carbon black in the battery cathode with a small amount of Lioaccum CNT dispersions, increasing battery capacity and performance while reducing manufacturing costs.
