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Chinese firms target Korean tie ups to bypass IRA

Posted on - 10 Aug 2023

Category - News & Views

China’s Ningbo Ronbay New Energy (SHA:688005) is the latest Chinese intermediate materials producer to announce a JV in Korea aimed at circumventing the IRA. It announced plans to build an 80Ktpa ternary pCAM plant in Korea. It’s just one of a number of firms which have committed over KRW5tn (US$4bn) to build projects in Korea. Other projects include Zhejiang Huayou Cobalt’s (SHE:603799) US$923m 50Ktpa pCAM JV with LG Chem (KRX:051910) and its US$900m JV with Posco Future M (KRX:003670) for high purity nickel and pCAM plants; CNGR’s (SHE:300919) US$1.2bn JV with Posco (KRX:005490) and Posco Future M to produce 50Ktpa...

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China CNGR Ecopro GEM Huayou Cobalt Korea LG Chem Ningbo Ronbay Posco Posco Future M SK On