GEM, Huayou Cobalt and other companies are accelerating their overseas layout and building localized supply chains

Faced with the huge demand in the European market, many material companies such as GEM, Huayou Cobalt, Longpan Technology, Xinzhoubang, Xiamen Tungsten New Energy, and Hailiang New Materials have released plans to go overseas, involving positive and negative electrode materials, electrolytes, diaphragms, battery recycling and other fields. For example, GEM signed a memorandum of cooperation with the Hungarian Consulate General in Shanghai, and Huayou Cobalt invested in the construction of a ternary positive electrode project for high-nickel power batteries in Hungary. The overseas layout of these companies will help build a localized supply chain and further enhance the competitiveness of Chinese companies in the global market.