Greenmey develops high nickel market -Lithium - Ion Battery Equipment

Greenmey develops high nickel market -Lithium - Ion Battery Equipment

Recently, Greenmei (002340), a member enterprise of the G20 Lithium Battery Summit, announced that the company had signed joint venture agreements with Xinzhan International (a subsidiary of Qingshan Iron and Steel), Bangpu Recycling, Molowali Industrial Park in Indonesia, and Sakwa Industrial Co., Ltd. in Ningde, Fujian Province, and planned to invest 700 million US dollars (about 4.8 billion yuan) to set up a joint venture in Indonesia to carry out nickel resource smelting and deep processing and build a manufacturing base for power battery raw materials.

The announcement shows that the initial goal of the joint venture is to build a nickel metal hydrometallurgical production and smelting capacity of no less than 50000 tons, a cobalt metal hydrometallurgical smelting capacity of 4000 tons, and to produce 50000 tons of intermediate nickel hydroxide, 150000 tons of battery grade nickel sulfate crystals, 20000 tons of battery grade cobalt sulfate crystals, and 30000 tons of battery grade manganese sulfate crystals. In the future, the product structure will be adjusted and the production scale will be expanded according to the needs of the global market.(Lithium - Ion Battery Equipment)

According to the agreement, Greenland will hold 36% shares of the joint venture; Xinzhan International holds 21% shares; Bangpu Recycling holds 25% shares, Indonesia Molowali Industrial Park holds 10% shares, and Japan Sakwa Industrial holds 8% shares.

Greenmey said that the signing of the joint venture agreement is a historic strategic cooperation between the company and Qingshan Iron and Steel, the resource giants and market giants in the Bangpu recycling industry. The company has strategically joined hands with upstream nickel resources and downstream markets to achieve the huge change effect of "resources+technology+market", and comprehensively improve the company's core competitiveness in the front-end resource acquisition and back-end market in the field of ternary material manufacturing, It will reduce the industrial chain cost of the company's core business of ternary materials.

It is not difficult to see that the heavy investment layout of Greenland is mainly for the needs of stabilizing the upstream supply system of nickel resources. According to industry estimates, with the commercialization of new energy vehicles, the global first-class nickel resources will increase by more than 500,000 tons in 2025.

On the one hand, according to the domestic goal of achieving the power battery energy density of 300Wh/kg by 2020, the high nickel ternary combination with silicon carbon negative electrode is the mainstream direction recognized in the industry. Therefore, the demand for nickel resources, the main material of high nickel ternary, may usher in explosive growth.

On the other hand, according to the planning goal, the power battery cost is required to reach 1 yuan/Wh by 2020. With the lessons learned from the sharp fluctuations in the price of cobalt resources before, the prediction of the future demand gap for nickel resources and the need for cost reduction, attacking upstream resources in advance has become an important way out for material enterprises.

It is generally believed in the industry that Greenland is the main supplier of cathode materials of Ningde Times, and Bunp Cycle is the holding subsidiary of Ningde Times. The strategic supply of nickel resources obtained by Grimm and Bunp in this round is undoubtedly to guarantee and stabilize the explosive growth of market demand in the late Ningde era.

According to the data of the Institute of Lithium Electricity (GGII), the installed capacity of domestic power batteries was 23.06GWh from January to August 2018. Among them, the power battery installed capacity of Ningde Times reached 9.36 GWh, ranking first.

At the same time, the cooperation between Ningde Times and domestic and foreign auto enterprises has been frequent this year, laying a solid foundation for the expansion of its own scale and the delineation of its market share. Since the second half of the year, the bidding for production expansion in Ningde era has also been in full swing.

It is worth mentioning that on September 20, a joint venture will be established between the subsidiary of Greenmei, Jingmen Greenmei, and Yongqing Technology (a subsidiary of Qingshan Iron and Steel), to be responsible for the construction of the ternary power battery material project, with a total investment of 1.85 billion yuan. Among them, the first phase is to build a project with an annual output of 50000 tons of precursor raw materials for power ternary materials, 20000 tons of ternary cathode materials, and 180000 tons of high-purity raw materials for series ternary materials (high-purity nickel sulfate, high-purity cobalt sulfate, high-purity cobalt chloride, high-purity manganese sulfate).



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