Shanshan Corporation to purchase Li-battery raw materials from Evergreen New Energy
2020-03-26 17:59:55 [Print]
On the evening of March 25, Shanshan Corporation announced that by April 30 its controlled subsidiary Shanshan New Energy will purchase from Evergreen New Energy raw materials used in producing Li-batteries worth no more than RMB200 million (USD28
Evergreen New Energy is a joint venture set up in October 2018 between Shanshan New Energy, Geely Group and Zijin Mining; it focuses on businesses including used Li-battery utilization, and research, production, selling and import/export of ternary material precursors.
According to investment agreement on the JV, Evergreen New Energy will pump a total of RMB6.589 billion (USD927 million) within five years into building a three-stage production project consisting of processing 150,000tpa used Li-batteries and producing 100,000tpa NCM precursors . Stage One project, which has an investment of RMB1 . 18 billion (USD166 million) for building 10,000tpa used Li-battery processing and 20,000tpa NCM precursor production lines, was already built and went into operation at the end of 2019 . What Shanshan Corporation planned to purchase is quite likely NCM precursors just coming off Evergreen New Energy production lines.
. 15 million).Evergreen New Energy is a joint venture set up in October 2018 between Shanshan New Energy, Geely Group and Zijin Mining; it focuses on businesses including used Li-battery utilization, and research, production, selling and import/export of ternary material precursors.
According to investment agreement on the JV, Evergreen New Energy will pump a total of RMB6.589 billion (USD927 million) within five years into building a three-stage production project consisting of processing 150,000tpa used Li-batteries and producing 100,000tpa NCM precursors . Stage One project, which has an investment of RMB1 . 18 billion (USD166 million) for building 10,000tpa used Li-battery processing and 20,000tpa NCM precursor production lines, was already built and went into operation at the end of 2019 . What Shanshan Corporation planned to purchase is quite likely NCM precursors just coming off Evergreen New Energy production lines.