Posted on 25 Jul 2023
Shanghai-listed Ningbo Ronbay New Energy Technology announced it has received approval from the South Korean government for its 80,000 tonnes/year ternary precursor and supporting sulphate salt production base project located at Saemangeum Industrial Park located at Jeollabuk-do, Kallanish learns.
Ronbay thinks the approval of this project will provide a suitable location for its production capacity expansion plans in South Korea, accelerate progress on its global strategic layout and further improve the company's competitiveness overseas.
According to the company's global strategic layout plan, it has first completed development of cathode materials, ternary precursors, and recycling in South Korea. It has already constructed precursor capacity of 6,000 t/y and cathode material capacity of 20,000 t/y.
Based on increasing demand, the company is also planning to add another 80,000 t/y cathode material project (including ternary and phosphate salt cathode materials).
The company thinks the products from its South Korean factory would meet the relevant requirements listed in the US Inflation Reduction Act, and can enjoy favourable tariff policies when being exported to European and American markets. This would help accelerate acceptance by customers in North America, Japan, South Korea, and Europe.
Source:Kallanish
