5.2 Billion yuan Investment Planned! SEMCORP Joins Hands with CATL to Bring Forward Xiamen SEMCORP

On the night of Jun. 20, SEMCORP announced the progress made in partnership with CATL: the joint platform enterprise between SEMCORP and CATL will establish a corporation in the area managed by both Xiamen Torch Development Zone For High Technology Industries Management Committee and the People’s Government of Tongan District, Xiamen City. The corporation will be temporarily named “Xiamen SEMCORP New Materials Co., Ltd.”, with a planned investment of 1.6 billion yuan.

It was reported that the corporation plans to build 16 lithium-ion battery separator and coat-cutting assembly lines in the joint management area, which will be mainly used for but not limited to the markets of EV power batteries, storage batteries, etc., with a total investment of 5.2 billion yuan. Around 400mu of land has been designated for the project, which will be finished in 2023 and partially put into operation according to plan.

Earlier in Nov. 2021, SEMCORP announced a cooperation agreement signed with CATL—the two parties plan to establish a joint limited liability venture within China as a platform to invest in dry and wet separator projects.

At present, SEMCORP is the industry leader in wet lithium-ion battery separator industry and the largest lithium-ion battery separator supplier by volume sold with the largest market share in the world. SEMCORP has been incorporated into the supply chain for global mainstream lithium-ion battery manufacturers including domestic and overseas lithium-ion battery giants such as Panasonic, LG Energy Solution, Ltd, SAMSUNG SDI, BYD and GOTION HI-TECH, all of whom are leaders in the new energy sector.