Japan-based global chemicals conglomerate Showa Denko has launched a new business in Shanghai to expand its sales of advanced battery materials across China.
Denko said its wholly-owned subsidiary— Showa Denko Battery Materials (Shanghai) Co— will strengthen the group’s battery materials activities in the country as it ramps up its new energy vehicles (NEVs) sector.
“The market for lithium-ion batteries is rapidly expanding, not only due to the spread of mobile electronic devices including smartphones but also due to the diffusion of onboard use of LIBs for NEVs,” Showa Denko said.
The company said the move underpinned its ‘project 2020+’ business plan to establish LIB materials as a key earner and in China in particular.
Until now, Showa Denko said it has sold LIB materials in China through a dedicated Shanghai management company, which has also acted as a “regional headquarters”.
The new subsidiary, established in Jingan, Shanghai, on 10 April, is needed now to market and sell materials, while “speeding up decision-making and strengthening relationships with major LIB manufacturers” in China, the company said.
Show Denko said the group’s existing advanced battery materials division will “supervise” operations to make the most of business opportunities “in the rapidly growing LIB market in China”.
The battery materials division works on the commercialisation of lithium-ion batteries and fuel cell materials and supplies SCMGTM anode materials, VGCFTM carbon nanotubes, aluminium laminated films for batteries, and carbon-coated aluminium foils for positive electrode current collectors SDXTM.