Materials

Report by Sandalwood Advisors

Ecopro BM is South Korea's largest producer of cathodes for EV batteries. The company is an important supplier to BMW and Tesla and can be viewed as an early indicator to EV market demand. Recently, Ecopro BM reported a major decline in revenue growth, stating 1Q24 Total Revenue (KRW) at -52% Y/Y and below market expectations. Global investors who closely follow Ecopro and the EV market used Sandalwood’s South Korea data to accurately track this trend.