China’s SVOLT inks agreements with two companies for battery raw materials supply

Shanghai (Gasgoo)- On June 15, SVOLT Energy Technology Co., Ltd. (“SVOLT”), a Chinese power battery maker carved out of Great Wall Motor (“GWM”), signed strategic cooperation agreements with SDIC Xinjiang Luobupo Potash Co., Ltd. (“Luobupo Potash”) and Hangzhou Five Star Aluminum Co., Ltd. (“Five Star Aluminum”) respectively to strenghten its deployment in the supply of potassium, lithium, aluminum, and other battery raw materials.

Under the agreement signed with Luobupo Potash, both parties will carry out a strategic cooperation in the field of lithium resources, co-working on cutting-edge technology applications, and resource development and deployment, so as to guarantee the stable supply of lithium resources.

Photo credit: SVOLT

Luobupo Potash is majority-owned by the state-run SDIC Mining Investment Co., Ltd. It mainly produces potassium sulphate by using natural brine in Lop Nor, according to the introduction posted on its official website. The company has built a production facility with an annual output of 1.5 million tonnes of potassium sulphate and 100,000 tonnes of potash magnesium sulphate fertilizer.

On the same day, SVOLT and Five Star Aluminum inked a strategic cooperation framework agreement under which the former will purchase from the latter about 80,800 tonnes of lithium battery aluminum foil and carbon-coated aluminum foil from 2022 to 2025, according to the announcement released by Jiangsu Dingsheng New Energy Materials Co., Ltd., the parent company of Five Star Aluminum.