Beijing Easpring Material Technology, QingTao Energy ally on solid-state battery materials supply

Shanghai (Gasgoo)- Chinese new energy materials supplier Beijing Easpring Material Technology Co., Ltd. (“BGRIMN”) and the solid-state lithium ion battery developer QingTao (Kunshan) Energy Development Co., Ltd. (“QingTao Energy”) on July 16 signed an agreement to build a strategic partnership on a number of businesses like solid-state battery technology development, according to BGRIMN's announcement.

Per the agreement, both parties will step up the global cooperation on the development of EV batteries. QingTao Energy will purchase BGRIMN's products in priority to develop power batteries for new vehicle models or new types of batteries used in other fields.

Meanwhile, the duo will cement exchange and collaboration on high-capacity lithium-rich manganese-based cathode materials, solid-state lithium ion batteries, relevant key materials, as well as other cutting-edge technologies related to lithium batteries.

QingTao Energy, BGRIMN; photo credit: QingTao Energy

Under the cooperation, QingTao Energy should regard BGRIMN as its preferred supplier of solid-state lithium battery cathode materials, and prioritize the latter in payment under the same commercial terms and conditions. To be specific, QingTao Energy promised to purchase from BGRIMN at least 30,000-tonne solid-state lithium battery cathode materials from 2022 to 2025.

What's more, the two companies agreed to strengthen the investment and cooperation in the fields of power battery and lithium battery cathode materials worldwide based on their development demands, so as to ensure a smooth implementation of the aforesaid transaction.

Moreover, both parties also agreed to team up on financing inside or outside China, investment, merger and acquisition, and other capital-linked businesses.

Located in Kunshan, Jiangsu province, QingTao Energy focuses on the industrialization of new energy material technologies and takes the lead in realizing the industrialization of solid-state lithium battery through in-house development of key lithium battery materials, innovative design of equipment, and optimization of mass production process, according to the corporate description posted on the company's website. It constructed the first solid-state lithium battery production line in China.