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[Ferro-Alloys.com] 

LG Chem with Huayou to make battery materials in Indonesia, Morocco

Recently, South Korea’s LG Chem Ltd has entered a partnership with China’s Huayou Group’s subsidiary Youshan to build a joint electric vehicle (EV) battery material plant in Morocco to diversify its portfolio.

Huayou has joined the growing number of Chinese electric vehicle and battery companies seeking to expand overseas to get closer to their foreign clients and benefit from local incentives.

In a separate statement, Huayou’s listed unit Zhejiang Huayou Cobalt Co said it intended to build plants with LG Chem in Indonesia and Morocco under a strategic partnership to promote international growth.

LG Chem said it plans to build two other facilities in Indonesia – a precursor plant with an annual production capacity of 50,000 tonnes and a plant to extract mixed hydroxide from nickel ore for precursor production.

• [Editor:邢亞敏]