There has been big news for the Australian lithium industry today, with Lithium Australia announcing it has established a joint venture partnership with DLG Battery Co Ltd, a major Chinese battery supplier. The pair have signed a letter of intent that will see the venture supply and sell lithium-ion batteries, packs and lithium modules in Australia and Asia.
DLG and Lithium Australia has already been working together on testing lithium iron-phosphate powders at their Brisbane pilot plant. This is a critical material used in the manufacture of lithium-ion batteries.
Lithium Australia’s Adrian Griffin said “Lithium Australia’s partnership with DLG will provide us with first-mover advantage in the supply of batteries designed specifically for Australian conditions and create a stable supply chain,”
“Australia is already established as a world leader in the take-up of energy storage using lithium-ion batteries.”
“Lithium Australia, through its subsidiary VSPC, has developed superior cathode materials that provide the performance required for this application, under conditions of high ambient temperatures. Our partnership with DLG, a leading Chinese battery producer, vindicates the development efforts by the company to commercialize this opportunity,” Mr Griffin said.
The agreement would see Lithium Australia purchase battery inventory by transferring 12.5 million shares to DLG.
