Sinochem International Lithium Battery Research -Lithium - Ion Battery Equipment

Sinochem International joins the power lithium battery field -Lithium - Ion Battery Equipment

Entering the field of new energy vehicles has become one of the important paths for traditional energy enterprises to transform their energy structure.

On the morning of August 30, Sinochem International (600500), a A-share listed company under Sinochem Group, signed an investment cooperation intention agreement in Shanghai with Huai'an Junsheng New Energy Technology Co., Ltd. (hereinafter referred to as "Junsheng Battery") and Nanjing Bojun New Energy Automobile Co., Ltd. (hereinafter referred to as "Bojun Automobile").

It is understood that the three parties will focus on ternary lithium batteries and jointly promote the development and promotion of higher performance ternary lithium battery products. At the same time, the three parties will also discuss strategic cooperation in smart electric vehicle research and development, smart travel, charging services and other aspects.

Among them, Sinochem International will invest in the power battery project of Junsheng Battery, a wholly-owned subsidiary of Bojun Automobile, located in Huai'an. The original plan of the project is to invest 10 billion yuan, build 500000 square meters of new plants, and use 1500 mu of land. It is estimated that 10 new cell and battery pack R&D and production lines will be built.(Lithium - Ion Battery Equipment)

As for the three parties involved in the cooperation, Sinochem International can use Junsheng Battery and Bojun Automobile to cut into the field of new energy power battery in an all-round way to help Sinochem Group's strategic transformation of energy structure; For Junsheng Battery and Bojun Automobile, it is possible to obtain strong investment and strategic support from central enterprises.

In fact, this large investment of Sinochem International also demonstrates the determination and ambition of Sinochem Group in the strategic transformation of its energy structure.

As an important state-owned backbone enterprise, Sinochem Group is one of the four major national petroleum companies in China, with five business divisions: energy, chemical, agriculture, real estate and finance. Although Sinochem Group is large and financially sound, it has been seeking strategic transformation.

From the perspective of transformation direction, the Chemical Business Department of Sinochem Group has established the strategic development direction of "building a world leading innovative fine chemical enterprise" with agricultural chemicals, automotive chemicals, electronic chemicals and other fields as the core, and has taken the lithium battery material industry as the top priority of the strategic layout of automotive chemicals.

Last November, Jiangsu Ruishengwei, a subsidiary of Sinochem International, intended to settle in Zhongwei, Ningxia. In April this year, the first phase of the 10000 ton NCM lithium battery cathode material project was put into trial operation, and the second phase of the project was officially launched.

According to the analysis of insiders, this strategic investment in Junsheng Battery and Bojun Automobile is not only an overall endorsement of Sinochem Group's automotive chemicals strategy, but also expected to have an upstream and downstream resource linkage effect with Jiangsu Ruisheng.

According to the data, Bojun was founded in 2016 as a technology company focusing on smart travel solutions. The company has set up R&D centers, marketing centers, manufacturing plants and other institutions respectively in Shanghai, Beijing, Nanjing, Huai'an and Detroit, the United States, and has long-term accumulation and core advantages in chassis platform, vehicle performance, three electricity technology, lightweight technology and intelligent driving system solutions.

Junsheng Battery, a wholly-owned subsidiary of Bojun Automobile, focuses on the R&D and production of ternary lithium battery projects such as battery cells, modules and packs.



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