On May 22, CORNEX New Energy Co., Ltd. signed a strategic cooperation agreement with Changzhou Liyuan New Energy Technology Co., Ltd. (LBM New Energy Technology Company). Under the deal, CORNEX will purchase a total of approximately 150,000 tonnes of lithium iron phosphate (LFP) cathode materials from LBM over the next five years, with a total value of around RMB 5 billion (USD696 million).
The two companies will work closely to promote the development and mass production of diversified, high-quality, and high-density LFP cathode materials, aiming to expand their presence in the new energy market.
