Guangzhou Automobile and SAIC invested 300 million yuan in Jiuling Lithium Industry.

GAC GROUP learned that GAC Capital and SAIC Group Shangyi Capital and Investment Jiuling Lithium Industry formally signed a strategic investment agreement, with a total investment of 300 million yuan.

Jiuling Lithium Industry is a group company integrating mining, mineral processing and smelting deep processing, mastering lithium mica resources and possessing the leading core technology of extracting lithium from mica in China. After years of research, Jiuling lithium has overcome the industry problem of low-cost lithium extraction of lithium mica, and successfully achieved low-cost and stable continuous production from lithium mica to lithium sulfate mother liquor to battery-grade lithium carbonate. Among them, the extraction rate of lithium, cost control, continuous production, as well as the subsequent extraction of lithium carbonate quality, all show a high level in the industry.

With this strategic investment, GAC and SAIC will deeply integrate the upstream and downstream resources of the new energy vehicle industry chain to ensure the large-scale mass production and stable supply of lithium carbonate, the core raw material of new energy batteries.

Take GAC as an example, it has covered new energy technologies such as graphene anode materials, silicon-carbon anodes, solid-state cells, hydrogen fuel cells and so on through investment. With this investment in Jiuling Lithium Industry, GAC Capital hopes to cooperate with Jiuling Lithium Industry in industry chain support, procurement system support and joint research and development to establish a close business relationship. GAC Capital's layout in the field of new energy will be further extended to the upstream lithium mineral resources of new energy batteries to ensure a stable supply of lithium carbonate, the core raw material of new energy batteries, from the source.