Volkswagen (China) reaches strategic cooperation intention with Huayou Cobalt and Tsingshan Group
2022-03-23 17:49:18 [Print]
On March 21, Volkswagen (China) signed two memorandums of understanding on strategic cooperation with Huayou Cobalt and Tsingshan Group. This cooperation aims to achieve cost advantages, ensure the supply of raw materials, realize a transparent and sustainable supply chain, and strengthen the technological innovation coordination of the whole industrial chain including precursors and cathode materials.
Volkswagen (China) will establish an upstream joint venture focusing on the production of nickel and cobalt raw materials with Huayou Cobalt and Tsingshan Group. At the same time, it also plans to establish a downstream joint venture with Huayou Cobalt, specializing in nickel and cobalt sulfate refining, precursor processing and cathode material production, to support Volkswagen's new energy vehicle growth strategy in the Chinese market.
Volkswagen (China) will establish an upstream joint venture focusing on the production of nickel and cobalt raw materials with Huayou Cobalt and Tsingshan Group. At the same time, it also plans to establish a downstream joint venture with Huayou Cobalt, specializing in nickel and cobalt sulfate refining, precursor processing and cathode material production, to support Volkswagen's new energy vehicle growth strategy in the Chinese market.
NCM 523 Delivered China
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China cobalt powder producers' operating rate statistics by province by month
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