South Korean and Chinese enterprises build a battery material factory in South Korea. The construction plant is expected to be launched at the end of this year and completed in 2028.
Yonhap News Agency on Friday (April 14) in the industry reported that South Korea ’s LG Chemistry and China High -tech Enterprise Chinese Cobalt Industry in South Korea’ s Northern Wanjin Industrial Park, joint venture to build a front -drive production plant for a joint ventureEssence
South Korea ’s LG chemistry and China Huayou cobalt industry will be signed in April 19th in the Qunluo Road Qunshan City and Xinwanjin Development Department to sign the production facilities for the construction of batteries and finalizeInvestment agreement for site selection.According to the agreement, the two companies will spend about 1.2 trillion won (1.2 billion yuan) in the sixth working zone of Xinwanjin National Industrial Park to build a front -drive production plant with an annual production capacity of 50,000 tons.The factory plans to start at the end of this year and aim at completion in 2028.
The front -wheel drive is a compound mixed with nickel, cobalt, manganese and other elements, and it is a core material that accounts for 65%to 70%of the manufacturing cost of the positive pole material.The analysis believes that the South Korean LG chemistry is designed to consolidate the supply chain of domestic battery materials in Korea and respond to the US inflation reduction bill.
