GEM Bags Bulk Raw Material Supply Deal With Chinese Lithium Battery Maker
Tang Shihua
/SOURCE : Yicai
GEM Bags Bulk Raw Material Supply Deal With Chinese Lithium Battery Maker

(Yicai Global) Dec. 26 -- GEM Co. [SHE:002340] said it has secured a bulk lithium-ion battery precursor material supply deal with leading Chinese lithium cell manufacturer NingDe Amperex Technology Ltd. that will help the former consolidate its position as a mainstream raw material supplier in the new-energy battery market.

GEM's wholly-owned Jingmen subsidiary recently signed a contract to provide the battery producer with 12 million tons of large particle-size tricobalt tetroxide for an unspecified amount, delivering the products between January and December next year.

NingDe Amperex Technology is a wholly-owned unit of Hong Kong-based Amperex Technology Ltd., one of the global leaders in the lithium-ion battery manufacturing field, GEM said.

GEM said that the contract's execution indicates that its recycled lithium battery precursor and cathode materials have successfully penetrated the supply chains of major Chinese and international manufacturers, and the firm has become a leading new-energy battery raw material provider.

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Keywords: Lithium Battery , Cobalt (II , III) Oxide , Amperex Technology , Big Contract , GEM