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On September 26, Xtc New Energy Materials (Xiamen) Co., Ltd. (hereinafter referred as “Xtc” or “the company”) released an announcement revealing its expansion plans in the European new energy market. Xtc plans to collaborate with Orano CAM through its wholly-owned subsidiary Xtc Europe to establish a joint venture company in France.

According to the announcement, Xtc Europe will contribute 10.2 million euros in cash, holding a 51% stake in the joint venture company, while Orano CAM will contribute 9.8 million euros in cash, holding a 49% stake.

Xtc France, as a crucial part of this collaboration, will be responsible for investing CNY 3.96 billion to construct a production line with an annual capacity of 40,000 tons of ternary cathode materials. Once completed, this production line will significantly increase Xtc’s capacity for producing ternary cathode materials.

It is worth noting that Xtc focuses on ternary cathode materials in the field of new energy vehicles, and Orano CAM is a subsidiary of the local French company Orano Group. Orano Group is one of the world’s largest nuclear industry groups and one of the few companies in the field that can provide the entire industrial production process for power companies.

This collaboration with Orano CAM will help further solidify Xtc’s global presence in the ternary cathode materials market and accelerate its progress in overseas market expansion.

Source: Securities Times

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