China’s Tinci Inks Long-Term Deal to Supply Lithium Battery Electrolytes to Eve Energy

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(Yicai) Nov. 6 -- Tinci Materials Technology, a leading Chinese supplier of electrolytes and electrolyte chemicals for lithium batteries, has signed a long-term supply deal with…

(Yicai) Nov. 6 -- Tinci Materials Technology, a leading Chinese supplier of electrolytes and electrolyte chemicals for lithium batteries, has signed a long-term supply deal with Chinese lithium battery giant Eve Energy.

Tinci did not reveal the total value of the deal, but based on current lithium iron phosphate battery electrolyte prices of about CNY30,000 (USD4,500) per ton, it could bring the firm about CNY13.5 billion (USD2 billion) in sales revenue.

Tinci’s shares [SHE: 002709] were trading down 0.5 percent at CNY28.86 (USD4.32) as of 1.05 p.m. today, after earlier gaining as much as 3.2 percent. The Shenzhen Component Index fell 1.7 percent.

Tinci is the world’s leading supplier of lithium battery electrolytes. It previously signed long-term supply deals with four major Chinese lithium battery makers -- Cornex New Energy, Gotion High-Tech, Rept Battero, and China Lithium Battery…

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