Rongbai Technology's 20,000-ton high-nickel project 'advanced' in South Korea

my country's high-nickel materials company has entered the 'base camp' of Korean batteries. Rongbai Technology (688005) announced that the company intends to invest 1.193 billion yuan to increase the capital of South Korea’s wholly-owned subsidiary JAESEEnergy Co., Ltd. (hereinafter referred to as 'JS Co., Ltd.') to build South Korea’s annual production of 20,000 tons of high nickel cathode project. High nickel cathode material based on NCM811 and NCA. Behind Rongbai Technology's high-nickel project in South Korea, three Korean battery companies, Samsung SDI, LG Chem, and SKI, have anchored high-nickel as one of the important technical routes in the future. Customers basically include the current international first-tier OEMs. The acceleration of global electrification will result in strong demand for high specific energy power lithium batteries and high nickel materials. The construction of a high-nickel material processing base in South Korea will help Rongbai Technology to provide nearby supporting services to customers such as SKI, further develop the Korean high-nickel market, increase its overseas sales proportion, and improve its global strategic layout. At the same time, processing high-nickel materials in South Korea and supplying them to the European and American markets can significantly reduce or even eliminate tariffs. This provides favorable conditions for the export of Rongbai Technology's high-nickel materials and enhances its product profitability. In fact, Rongbai Technology has long established its presence in the Korean market. The company has set up two holding companies and one equity company in South Korea, and its business areas cover lithium battery ternary cathode material precursors, lithium battery renewable materials, and waste resource recovery. Rongbai Technology stated that the company has reached preliminary cooperation intentions with some international customers in the anode project in South Korea. 'Three of the world's top five lithium battery manufacturers are located in South Korea. By prioritizing the development of major customers, it is of great significance to enhance the competitiveness of the company's overseas products.' As the first domestic cathode material company to mass-produce and supply high-nickel materials in batches, Rongbai Technology is confident in the global high-nickel material market and is currently the largest supplier of high-nickel materials in China. Rongbai Technology stated in the 2020 semi-annual report that the company achieved revenue of 1.23 billion yuan in the first half of the year. Its Hubei subsidiary is an important processing base for domestic NCM811. Sales of NCM811 materials increased by 87% year-on-year, and sales accounted for half of the total domestic NCM811 shipments. the above. Among them, Hubei Rongbai achieved revenue of 1.14 billion yuan and net profit of 31.92 million yuan in the first half of the year, which means that high-nickel materials have become the main product of Rongbai Technology. After the high-nickel material base in South Korea is put into production, it will help Rongbai Technology to consolidate its market position in the field of high-nickel materials and improve product profitability. At present, Rongbai Technology has reached cooperation with Ningde Times, Yiwei Lithium Energy, Lishen Battery, BYD, AVIC Lithium Battery, Funeng Technology and other battery companies to provide guarantee for their performance increase. In terms of improving market competitiveness, Rongbai Technology is developing low-cobalt cathode materials with nickel content higher than 90% on the basis of consolidating the competitiveness of NCM811 products. Currently, it has mass-produced Ni≥90% materials and stable shipments. ability. Disclaimer: Some pictures and content of articles published on this site are from the Internet. If there is any infringement, please contact to delete. National large funds will support the development of power lithium-ion batteries