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Shares of Zhongwei and XTC New Energy Materials experienced gains today after the two leading companies in China’s lithium battery supply chain announced a collaboration to secure a steady supply of raw materials and jointly develop innovative products, including solid-state and semi-solid-state battery components.
Zhongwei’s stock closed up 1.3% at 49.90 yuan (approximately $7), after earlier surging 4.7% to 51.58 yuan. Similarly, XTC’s shares finished the day up 2.4% at 83.90 yuan (around $11.80), having earlier jumped 6.1% to 86.94 yuan.
Zhongwei, known for supplying precursor materials used by XTC to manufacture cathode materials for lithium batteries, is entering into a long-term, stable partnership covering product supply, marketing, and processing, the companies revealed yesterday.
Over the next three years, the combined trade volume of lithium battery materials under this collaboration is projected to reach 335,000 metric tons, averaging roughly 115,000 tons annually.
The materials involved include precursor products such as ternary precursors, manganese-based precursors, and solid-state battery precursors, as well as raw materials like cobalt tetroxide, lithium carbonate, lithium phosphate, and recycled lithium products.
Both companies plan to work together on expanding their global production capacity, exploring mineral resources, and developing new battery materials for emerging markets such as low-altitude aircraft and intelligent robots.
A significant focus of this partnership will be on advanced technologies like solid-state battery materials, aiming to accelerate the development of high-energy-density, fast-charging batteries to meet increasing market demands and capitalize on new opportunities.
This collaboration is expected to enhance supply chain stability for XTC, strengthening its market position.
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