VW Signs Up China's Ganfeng for Lithium Cooperation
Dou Shicong
/SOURCE : yicai
VW Signs Up China's Ganfeng for Lithium Cooperation

(Yicai Global)  April 8 -- Volkswagen has inked a partnership deal with China's largest  lithium producer as part of the German auto giant's efforts to safeguard  the development of its pure-electric vehicle program.

VW and Ganfeng  Lithium have penned a cooperation agreement for the supply of key raw  materials, the Jiangxi-based firm said in a statement without confirming  specific transaction details. 

The pair will also collaborate on other areas such as product recycling and solid-state batteries.

Volkswagen aims to  debut more than 70 new PEVs over the next six years with over a quarter  of production to go green by 2025. The deal will help the  Wolfsburg-based company cope with the subsequent increase in demand for  battery materials. 

Founded in 2000, Ganfeng sells more than 40 lithium compounds and related-metal products, mainly used for electric vehicles, chemicals and pharmaceuticals.

Editor: William Clegg

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Keywords: Ganfeng Lithium , Volkswagen