Posco Chemical buys stake in Chinese language EV battery materials producer

, Posco Chemical buys stake in Chinese language EV battery materials producer

[ad_1]

, Posco Chemical buys stake in Chinese language EV battery materials producer

Posco’s headquarters in Gangnam, Seoul. (Yonhap)

Posco Chemical Co., a unit of South Korean metal large Posco, mentioned Wednesday it plans to amass a 15 p.c stake in a Chinese language producer of synthetic graphite anode materials as a part of efforts to bolster its battery supplies enterprise.

The choice, reached at a board assembly earlier within the day, allows Posco Chemical to take a position 26.1 billion ($22.1 million) in Interior Mongolia Sinuo New Materials Expertise Co. and take part within the administration of the corporate, the corporate mentioned in a regulatory submitting and press launch.

Sinuo has an annual manufacturing capability of about 20,000 tons of the important thing materials utilized in lithium-ion batteries. Posco Chemical will maintain the unique proper to gross sales of Sinuo merchandise within the South Korean market.

The artificial graphite anode materials touts its stability, as it’s manufactured at a excessive temperature and thus makes the EV battery extra sturdy and quicker at charging.

Posco Chemical mentioned it expects the stake buy will assist the corporate increase its presence within the home anode market. As of 2020, Posco Chemical ranked fourth with an 11 p.c market share in Korea.

Posco has been pushing to spice up its EV battery supplies enterprise lately as a part of a diversification technique.

Posco Chemical is constructing a manufacturing facility within the southern port metropolis of Pohang to broaden its cathode materials manufacturing with an annual capability of 16,000 tons.

In September, the corporate acquired a 13 p.c stake in Qingdao Zhongshuo New Power Expertise Co. to safe spherical graphite, a fabric wanted in making anodes. In January, it bought a 15 p.c stake in Australian graphite producer Black Rock Mining. (Yonhap)

 

_fbq.push(['addPixelId', '1440573646257323']); )(); window._fbq = window._fbq || []; window._fbq.push(['track', 'PixelInitialized', ]);

[ad_2]

Source link

Votar

Leave a Reply