Hanwha Group, South Korea’s chemicals-to-defense conglomerate, is working to bolster its secondary battery manufacturing equipment business with a goal to ramp up its sales by up to 10 times by 2030.
Hanwha Corp., the holding company of the country’s No. 7 conglomerate, on Monday unveiled sales targets of 1.4 trillion won ($1.1 billion) by 2027 and 3 trillion won by 2030 from Momentum, its automation engineering solution division that handles the rechargeable battery production equipment business.
The division was forecast to log revenue of up to 400 billion won this year, compared with 300 billion won in 2022, according to the company.
Hanwha also aims to double the division’s operating profit margin to 18-20% from the current level.
The company plans to complete the development of the world’s first coating technology for autonomous driving and a smart factory based on artificial intelligence and the world’s largest kiln, a thermally insulated chamber used for cathode production, next year for partial commercialization in 2025.
“We are considering cooperation with Hanwha Aerospace to develop special batteries for the defense sector,” said Hanwha CEO Yang Ki Won regarding Momentum and global business. Hanwha Aerospace Co. is the group’s affiliate for space, aircraft and defense businesses.
“We also plan to develop next-generation materials equipment such as silicon anode processing machines.”
Source: KED Global