Lithium ion Battery Global Arms Race - The Chinese are persistent in cornering the market, now moving in on Indonesia.
Over the past year, there's been talk of CATL and LG Energy setting up battery plants in Indo, now the Chem converters are moving in too.
As announced last week - Shenzhen Chengxin Lithium Group Co Ltd and an affiliate of Tsingshan Holding Group are set to invest in a $350 million Indonesian lithium project. Now China’s Ganfeng Lithium Co Ltd, the world’s biggest lithium company by market capitalization, is considering making "nickel chemicals" for electric vehicle (EV) batteries in Indonesia, its vice chairman told Reuters.
While Indo's proximity to Oz is a positive, (i.e. would reduce CO2 footprint, shipping costs and plant construction and operating costs due to low labor costs). However, China's first mover advantage there will block potential competition from getting a foothold.
I wonder how CATL & Co 49% stake in Manonoo projects will impact Ganfeng's 150kt spod offtake. M&A heating up everywhere, PLS need to get a move on with expansion and downstream plans, if good deals are there, speed it up a bit, just saying.
Good News & Bad News, page-4049
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