Huayou Cobalt, LG Chem to increase Li-ion battery materials supply with JVs

Huayou New Energy, a full subsidiary of Huayou Cobalt, and LG Chem will invest in two joint ventures in Quzhou and Wuxi, China, respectively, to produce lithium-ion battery materials, according to a statement filed on the Shanghai Stock Exchange on Tuesday April 10.

With a total investment of $159 million, Huajin New Energy Materials Co., Ltd will be located in Quzhou, Zhejiang province, and will be dedicated to the production and sale of precursor materials for lithium-ion batteries.
Huayou New Energy will hold a 51% stake in the joint venture and LG Chem will hold the remaining 49%.

The...

Published

Susan Zou

April 11, 2018

13:30 GMT

Shanghai