Globe's Third Largest Lithium Compund Producer Ganfeng Lithium To Supply Battery Raw Materials to GAC AION

Aug 24, 2022 10:56 AM ET
  • Ganfeng Lithium will supply reliable and inexpensive battery basic materials for GAC AION. The firm will certainly also supply basic material to the potential providers of GAC AION.
  • This initiative is targeted at supporting the companion to develop new electric vehicle (NEV) projects as well as step-up the innovation value as well as competitiveness of AION.

China-based Ganfeng Lithium has announced that it has actually signed a contract with China's new EV-maker GAC AION for the advancement of battery resources and recycling of decommissioned new electric vehicle (NEV) batteries. The business claimed that it additionally work with recycling of decommissioned electric vehicle batteries. The company claims to be among the globe's top producers of battery-grade lithium.

According to the cooperation terms, Ganfeng Lithium will provide reliable battery resources for GAC AION. The company will likewise supply resources to the potential vendors of GAC AION.

Ganfeng Lithium said that this is focused on sustaining the partner to develop NEV projects and also step-up the innovation value as well as competitiveness of AION. Under the agreement, GAC AION in turn, will sustain Ganfeng Lithium in the growth of new types of batteries. This would certainly additionally include solid-state batteries.

Further the firm added also held that it has determined to take part in GAC AION's project of critical financier introduction via resources augmentation. The deal in between the two gamers is also suggested to permit both the parties to employ their corresponding staminas and also sources in the scheme of things. The partnership is additionally an opportunity for them to establish a fine example of collaboration between upstream as well as downstream companies the fall in the new electric vehicle industrial chain.

In addition to it, Ganfeng Lithium additionally mentioned that the collaboration will certainly additionally help Ganfeng Lithium in improving its industrial chain layouts, core competitiveness, and profitability among others.

A Robust Future

The international electric vehicle battery market is positioned for a strong development from here. According to Precedence Research, the worldwide electric vehicle battery market size is expected to worth around $560 billion by 2030 as well as growing at a CAGR of 32% from 2022 to 2030. The growing sales of the electric vehicles across the globe are anticipated to considerably drive the development of the EV battery market during the forecast duration.

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