IM Motors: Plans to Achieve Full Coverage in the Middle East Market Within the Year

POSCO Group announced on August 19 that it will cooperate with Chinese cathode materials producer Longbai Group across the secondary battery materials value chain, including battery-grade lithium supply and used battery recycling. POSCO Holdings signed a strategic MOU with Longbai Group at POSCO Center in Seoul. Under the agreement, POSCO Group will seek to supply battery-grade lithium produced in South Korea and overseas to Longbai Group. Potential supply sources include lithium produced from Australian ore by POSCO Pilbara Lithium Solution in Yulchon Industrial Complex, brine-based lithium from POSCO Argentina, and lithium recovered from used batteries by POSCO HY Clean Metal. POSCO Pilbara Lithium Solution plans to complete Longbai Group’s quality certification process for its ore-based battery-grade lithium hydroxide by the fourth quarter of this year. Once certification is completed, the two sides will discuss potential mass-production supply.

On August 20, EVE Energy disclosed its semi-annual report for 2026. During the reporting period, the company achieved operating revenue of 45.691 billion yuan, a year-on-year increase of 62.20%. By product segment, revenue from energy storage batteries reached 15.094 billion yuan, a year-on-year increase of 69.15%, with a gross margin of 12.51%, down 1.36 percentage points year-on-year. During the reporting period, power battery shipments reached 35.76 GWh, a year-on-year increase of 66.47%; energy storage battery shipments reached 44.46 GWh, a year-on-year increase of 54.88%. The commercial vehicle supporting business and large cylindrical battery business continued to scale up, showing significant growth momentum. Both domestic and overseas business revenue achieved growth exceeding 62%, though gross margins declined in both regions. The gross margin for domestic business decreased by 1.96 percentage points, while the gross margin for overseas business decreased by 6.23 percentage points.

On August 18, Youngy Co. released its semi-annual report for 2026. In the first half of 2026, the company achieved operating revenue of 1.524 billion yuan, a year-on-year increase of 402.35%. The company plans to invest in the construction of a super charging hub project on a portion of its land within the Kangding Green Lithium Industrial Park. As of the reporting date, the company has only submitted a filing application and has not yet completed the project registration procedures. The site selection for the company's 2.5 million-ton lithium concentrate beneficiation project has not yet been finalized. The expansion of the original 350,000-ton beneficiation plant at the original site has not commenced. At this stage, the company continues to carry out the entrustment processing business for the transportation of raw ore from external sources.