Huayou Cobalt increases power battery supply chain

On March 21, Huayou Cobalt announced that the company has reached strategic cooperation intentions with Volkswagen (China) Investment Co.

According to the agreement, Huayou Cobalt, Volkswagen (China) and Tsingshan Holdings intend to form an upstream joint venture

At the same time, Huayou Cobalt and Volkswagen (China) plan to form one or more joint ventures in Guangxi and other places to invest in the construction of new energy lithium battery cathode material integration projects, engaged in nickel cobalt sulfate refining, ternary precursors and three Yuan cathode materials and other businesses

Huayou Cobalt said that this cooperation will help all parties to give full play to their advantages in resources, technology, industrial chain and end market, strengthen the supply guarantee of nickel and cobalt raw materials, and strengthen the cooperation including precursors, cathode materials, etc.