Chinese, South Korean companies to jointly develop power battery materials

China's Ningbo Technology Lithium Battery Material Co., Ltd. (Ronbay Technology, 688005.SH), a leading manufacturer of lithium battery anode materials, signed a joint research and development agreement in power battery with the LG Energy Solution, Ltd. (LGES), a leading battery maker in the Republic of Korea (ROK), according to the Ronbay Technology recently. 

The two sides will engage in extensive cooperation in the fields of lithium manganese iron phosphate (LMFP), cathodes without precursors, and medium-nickel high-voltage materials, covering areas such as technical development, manufacturing, and product sales.

According to Ronbay Technology, the signing of this agreement signifies the international recognition of its development capabilities and market position in LMFP and cathode material products. In the future, the two companies will engage in broader cooperation to jointly explore other cutting-edge technological fields, enrich the company's material categories, and enhance market share in applications.

Currently, the Shanghai-listed company is advancing an LMFP project with an annual capacity of 20,000 tonnes in the ROK.

Ronbay Technology was founded in 2014 and is based in Yuyao, east China. (Edited by Xie Weijia, Hu Pingchao, hupingchao@xinhua.org)