Chinese Battery Giant CATL Teams With Yuexin on Driverless Mining Solutions
Tang Shihua
DATE:  Jul 10 2020
/ SOURCE:  Yicai
Chinese Battery Giant CATL Teams With Yuexin on Driverless Mining Solutions Chinese Battery Giant CATL Teams With Yuexin on Driverless Mining Solutions

(Yicai Global) July 10 -- Chinese electric vehicle battery behemoth Contemporary Amperex Technology will join hands with Yuexin Intelligent Machinery to make unmanned, and more environmentally friendly, mining technologies.

The CNY65 million (USD9.3 million) joint venture will produce electricity drivers, cells, and electronic controls for autonomous mining facilities, the Paper reported.

The Henan province-based equipment manufacturer will hold 69 percent of the JV's equity, and the Ningde-headquartered battery maker will have the remainder.

The pair has already developed one autonomous mining solution, called the Ener-magic System, which uses lithium-ion batteries, fifth-generation mobile networks, and Big Data to control driverless truck and mining machinery. China Molybdenum, one of the country's major molybdenum ore processors, is already using the invention.

Founded in 2016, Yuexin partnered with Huawei Technologies on 5G technologies before to come up with unmanned mining solutions in March, according to public information.

Editor: Emmi Laine

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Keywords:   Joint Venture,Lithium Battery,Smart Mining Equipment,CATL