This afternoon (March 21), Zhejiang Huayou Cobalt Co.Ltd(603799) ( Zhejiang Huayou Cobalt Co.Ltd(603799) , SH) announced that the company had reached strategic cooperation intentions with Volkswagen (China) Investment Co., Ltd. (hereinafter referred to as Volkswagen (China)) and Qingshan Holding Group Co., Ltd. (hereinafter referred to as Qingshan holding) on the upstream and downstream cooperation of power battery cathode material industry chain. According to the agreement, the parties intend to jointly arrange the development of nickel and cobalt resources in Indonesia, as well as the integrated business of power battery cathode materials such as nickel and cobalt sulfate refining, precursor processing and cathode material production.
Specifically, Zhejiang Huayou Cobalt Co.Ltd(603799) together with Volkswagen (China) and Aoyama holdings, plans to establish an upstream joint venture. The joint venture plans to build products with an annual output of about 120000 tons of nickel metal and about 15000 tons of cobalt metal, which can meet the supply of nickel and cobalt raw materials for about 160gwh batteries.
Meanwhile, Zhejiang Huayou Cobalt Co.Ltd(603799) and Volkswagen (China) plan to establish one or more joint ventures in Guangxi and other places to invest in the construction of new energy lithium battery cathode material integration projects, engaged in nickel cobalt sulfate refining, ternary precursors and ternary cathode materials. It is said that the two sides will strengthen the technological innovation coordination of the whole industrial chain such as precursors and cathode materials, and jointly build an internationally competitive integrated manufacturing platform for new energy lithium battery materials.
“(cooperation) will help all parties give full play to their respective advantages in resources, technology, industrial chain and terminal market, strengthen the supply guarantee of nickel and cobalt raw materials, strengthen the technological innovation coordination of the whole industrial chain including precursors and cathode materials, jointly build an internationally competitive new energy lithium battery material industrial chain, realize a transparent and sustainable supply chain and promote the high-quality development of the company.” Zhejiang Huayou Cobalt Co.Ltd(603799) indicates.
