On July 23, Rongbai Science and Technology announced that the company had recently received the "Notice of Audit Results of the 6th New Wanjin National Industrial Park Entry Audit Committee in 2023" issued by the New Wanjin Development Office of the Korean Government. It is agreed that the company will invest in the construction of a ternary precursor and supporting sulfate production base with an annual output of 80000 tons in Xinwanjin National Industrial Park, Korea.
It is reported that Rongbai Science and Technology has taken the lead in completing the integrated layout of cathode materials, precursors and recycling in Korea, and has built 20000 tons/year cathode materials and 6000 tons/year precursor production capacity in Korea. With the approval, the construction of the company's Korean base will go further. In the future, the Korean base plans to build 100,000 tons of cathode materials and 86,000 tons of precursor production capacity .
The announcement shows that with the acceleration of the global "carbon neutralization" process, new energy vehicles have become an inevitable trend in the development of the global automotive industry, and as a key link in the industrial chain, cathode materials and precursors have gained rapid growth in the global market opportunities. At the same time, since the introduction of the IRA Act of the United States, South Korea, as one of the countries that have signed FTA with the United States and one of the major exporters of power batteries and battery materials to Europe and the United States, has shown a good growth trend in the development of its new energy industry chain.
Rongbai Technologies said that the products produced by the Korean base meet the requirements of the IRA Act on qualified key minerals, and can enjoy tariff policies when exported to European and American markets, which will help accelerate the introduction of downstream customers in North America, Japan, Korea and Europe. The issuance of this Notice will provide suitable production land for Rongbai Technology's capacity expansion plan in Korea, accelerate the process of global strategic layout, and further enhance the company's comprehensive competitive advantage in overseas markets. According to
the data, Rongbai Technology is the leader of cathode materials focusing on the field of high nickel. At present, 90% of the company's production lines are high nickel production lines, and 10% are production lines of other technical routes, which can produce different series of ternary cathode materials at the same time. In terms of
products, the sales volume of Rongbai Technology's high-nickel 8-series and above ternary cathode materials totaled nearly 90,000 tons, representing a year-on-year increase of 70.13%; the Ni90 system is under development and has entered the stage of mass production; the third generation of ultra-high nickel Ni92-96 has been developed in cooperation with customers. In terms of
capacity planning, Rongbai Technology plans to produce 600,000 tons of high nickel cathode materials in 2025 and more than 1 million tons of high nickel cathode materials in 2030. At present, Rongbai Science and Technology has built the world's largest fully automated production line of high nickel cathode materials in Hubei. At the same time, it has planned to build 100000 tons of high nickel cathode material factory in Korea.
In addition, Rongbai Science and Technology has achieved large-scale production of lithium manganese iron phosphate cathode materials, and the evaluation results of blended, low-cost, long-cycle and high-rate products are good. At present, the lithium manganese iron phosphate battery is currently in the stage of vehicle inspection, and it is expected that there will be positive progress in the follow-up customers, and the speed of terminal application will be accelerated.
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