On June 14, Huayou Cobalt Industry announced that it decided to terminate the acquisition of 100% equity of Sheng Vanadium Technology, planned to terminate the layout in the field of lithium iron phosphate materials, and signed the “Termination Agreement”. At the same time, Huayou Cobalt plans to establish an investment fund in partnership, and the future investment targets of the fund will mainly focus on the fields related to new energy lithium battery materials.
It is understood that, as the largest cobalt product supplier in China, Huayou Cobalt’s new energy business has been supported by the development of cobalt and nickel resources, extending to the manufacture of ternary lithium battery materials. The lithium iron phosphate material is another technical route for lithium batteries.
In July last year, Huayou Cobalt and the chairman of three listed companies including Hezong Technology and Yiwei Lithium Energy just organized a delegation to Zhaotong City, Yunnan Province for investigation and exchange, and they intend to jointly build the world’s largest lithium iron phosphate battery material base. However, in less than a year, Huayou Cobalt announced the termination of the layout of lithium iron phosphate materials.
Regarding the reason for the termination, Huayou Cobalt explained that it is to further concentrate advantageous resources, improve the efficiency of capital use, focus on the new energy lithium battery ternary material industry chain, and accelerate the layout of upstream nickel, cobalt and lithium resources, and downstream product development and capacity expansion. decision.
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