SHANGHAI, Feb 3 (SMM) – Chinese battery firm GEM signed a memorandum of understanding with South Korean battery material producer ECOPRO BM on January 31 to supply the latter with high-nickel precursor materials in the next six years, according to an announcement by GEM on February 2.
During 2020-2026, ECOPRO BM should procure nickel-rich nickel-cobalt-manganese oxide (NCM) 8 and 9 series precursor materials from GEM with a volume no less than 100,000 mt.
NCM precursors are the essential raw materials used to produce lithium-ion batteries for electric vehicles.
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