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  7. Sinochem invests 10 billion...

[YesAuto Industry] Recently, Sinochem Group's Chemical Division and Yangzhou Economic and Technological Development Zone signed a cooperation agreement. Sinochem Group will invest a total of 10 billion yuan to build a ternary lithium battery production line with an annual output of 20GWh in three phases. In addition to investing in ternary lithium battery projects, Sinochem Group will also establish a battery technology research institute, mainly for the development of second and third generation lithium battery technologies.

According to Sinochem, “new energy”, “new materials” and “biological industry” have been the three major strategic directions of the chemical business unit, and lithium batteries are also an important project in the strategy. Cooperation with Yangzhou Economic Development Zone to invest in the construction of lithium battery projects is an important measure for Sinochem Group to expand its new energy business. After the project is completed, it will focus on the research and development and production of new energy industries such as environmentally friendly lithium batteries for vehicles, especially to promote the development of local new energy vehicles in Yangzhou.

It is reported that Sinochem Group has started to expand the layout of battery positive/negative materials, lithium batteries, battery recycling and other fields two years ago. It has successively built 10,000 tons of NCM positive electrode material projects and negative electrode material projects in Ningxia and Hebei. In the field of lithium battery, it has reached cooperation with Bojun Automobile and Junsheng Battery. At present, the automobile industry in Yangzhou is becoming more and more mature, with 13 vehicle manufacturers including SAIC Volkswagen and more than 200 parts and components companies above designated size. Therefore, the cooperation between the two parties can not only give play to the synergy of the automobile industry chain in Yangzhou, but also help Sinochem Group to build a new energy ecosystem.