Huayou Cobalt, LG Chem to increase Li-ion battery materials supply with JVs

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Published: Wednesday, 11 April 2018

Huayou New Energy, a full subsidiary of Huayou Cobalt, and LG Chem will invest in two joint ventures in Quzhou and Wuxi, China, respectively, to produce lithium-ion battery materials, according to a statement filed on the Shanghai Stock Exchange on Tuesday April 10.

With a total investment of $159 million, Huajin New Energy Materials Co., Ltd will be located in Quzhou, Zhejiang province, and will be dedicated to the production and sale of precursor materials for lithium-ion batteries.

Huayou New Energy will hold a 51% stake in the joint venture and LG Chem...

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