Economic Observer Network reporter Tian JinOn July 1, Economic Observer Network learned from Ningbo Rongbai New Energy Technology Co., Ltd. (688005.SH, referred to as Rongbai Technology) that the company’s lithium battery cathode material project in Chungju, South Korea 1 -Phase 1 is completed, with an annual production capacity of 5,000 tons. According to the overall plan, the project will be constructed in three phases and is expected to be completed by the end of 2024. The annual production capacity is expected to be 80,000 tons. The first phase of 20,000 tons will be completed by the end of this year.
It is understood that the Chungju lithium battery cathode material project in South Korea is invested and constructed by Zaishi Energy Co., Ltd., a wholly-owned subsidiary of Rongbai Technology. This project is also an important step in the global layout of Rongbai Technology. In recent years, Rongbai Technology has invested in many companies in South Korea through capital operations such as acquisitions and equity investments, including Zaishi Energy Co., Ltd., EMT Co., Ltd., TMR Co., Ltd., and JYT Co., Ltd., gradually forming a "waste recycling-- "Precursor - cathode material" recycling industry system.
Rongbai Technology Chairman Bai Houshan said at the completion ceremony that the release of the company's overseas production capacity will help reduce supply chain risks, reduce trade tariffs, and better provide customers with product solutions. The completion and commissioning of this project will help the company to better carry out in-depth strategic cooperation with overseas customers, rely on the Korean base to accelerate the development of Japanese and Korean customers, and radiate the European and American markets and overseas factories of Chinese customers.
In terms of domestic lithium battery cathode material production capacity layout, Rongbai Technology has two major production bases in Ezhou, Hubei and Zunyi, Guizhou. On June 29, Rongbai Technology accepted an investor survey and stated that the company had built a high-nickel cathode production capacity of 120,000 tons by the end of 2021. It is expected that the built production capacity will reach 250,000 tons by the end of 2022, making it the world's largest cathode material company with the largest production capacity.
Regarding the next step of production capacity layout, Rongbai Technology stated that the company will further strengthen its global layout in the future. In the future, it will build manufacturing bases in Europe and North America to accelerate the expansion of international business and increase the company's share in the global lithium battery cathode market. , strengthen competitiveness in the international market.
As a multinational company in the new energy materials industry, Rongbai Technology is mainly engaged in the research, development and operation of lithium battery cathode materials . In July 2019, it was listed on the Shanghai Stock Exchange Science and Technology Innovation Board. It is the first domestic company to achieve high-nickel products (NCM811 ) is a mass-produced cathode material manufacturer, with NCM811 product technology and production scale ranking first in the domestic market for many years.
