GEM signs battery materials supply agreement with XTC New Energy

On October 24, GEM Co., Ltd. signed a strategic cooperation framework agreement with XTC New Energy Materials (Xiamen) Co., Ltd. to form a partnership for developing ultra-high-energy battery materials.

Under the agreement, GEM plans to supply XTC New Energy with around 150,000 tonnes of various battery raw materials and products annually from 2026 to 2028, including 36,000 tonnes of cobalt chloride, 36,000 tonnes of nickel sulfate, 18,000 tonnes of tricobalt tetroxide (Co3O4), 36,000 tonnes of ternary precursors, and 24,000 tonnes of lithium carbonate/lithium phosphate, totaling 450,000 tonnes over three years.

The two companies will also collaborate on resource recycling, green nickel development, and battery materials manufacturing for power and consumer batteries. Their cooperation will cover technology development, supply chain integration, and capital investment, focusing on the R&D, qualification, and forward-looking technological cooperation in products such as ternary and solid-state battery precursors, lithium-rich manganese-based precursors, etc.