Ganfeng Lithium signs supply memorandum with Volkswagen AG

Date: 09 Apr 2019

China's major lithium compounds producer Ganfeng will supply lithium products to German carmaker Volkswagen AG for the next ten years, according to a company statement released Monday.

Ganfeng Lithium Co., Ltd. signed a memorandum with the German carmaker to establish a long-term strategic cooperation that will bring secure supplies for Volkswagen's electric car plans, according to the statement filed to Shenzhen Stocks Exchange.

The companies will also work on battery recycling and solid-state batteries, the statement said.

The cooperation follows Ganfeng's deal with Tesla, LG Chem and BMW in 2018.

Based in the city of Xinyu in east China's Jiangxi Province, Ganfeng is the world's third largest and China's largest lithium compounds producer and the world's largest lithium metals producer in terms of production capacity as of December 31, 2017, according to industry analyst CRU.

The company was listed in Shenzhen Stocks Exchange in 2010 and Hong Kong Stocks Exchange in 2018.

Source: Xinhua

Subscribe to CGA Newsletters