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According to foreign media reports, LG Chem recently released regulatory documents that it will invest $417 million (about 2.947 billion yuan) in its wholly-owned subsidiary LG Chem Nanjing Plant to meet the needs of electric vehicle manufacturers. It is expected that this investment will be completed in December 2025.

In September this year, LG Chem and Tesla reached a purchase agreement. The two sides agreed that the future domestic version of Tesla Model3 would use the NCM811 power lithium-ion battery produced by LG Chem in Nanjing.

On September 27th of this year, SKI signed a "Joint Venture Contract" with Yiwei Lithium Energy. According to the agreement reached by both parties, the joint venture company produces soft pack power lithium-ion batteries with an annual production capacity of 20-25GWh.

It is reported that SKI plans to have a production capacity of 55GWh of power lithium-ion batteries by 2022. Currently, its planned production capacity at the power lithium-ion battery factory in Changzhou, Jiangsu, China is 7.5GWh.

Time to verify in the future

A battery company has established a subsidiary overseas to expand its overseas market in order to meet the needs of local customers regarding its products, strengthen international exchange of advanced technology, and enhance the company's competitiveness. The development of new products and technologies has promoting purposes, especially in greatly enhancing the company's visibility.

And these companies are also proactive and anticipate potential risks in the future.

For example, Pioneer Intelligence mentioned in the notice that in establishing a subsidiary in Sweden, the company needs to strengthen its understanding of Sweden's legal system, business environment, and cultural atmosphere. At the same time, the company needs to further understand and familiarize itself with the Swedish trade and investment legal system, ensure that the Swedish subsidiary operates legally and in compliance with Swedish laws, and prevent legal risks that may arise during the business process.

The approval system and operational risks are the first issues they need to consider and solve. There are still some differences between the approval and management systems in foreign countries and those in China, and it is unknown whether they will be 'acclimatized'.

Some industry experts also believe that although the raw materials and labor costs of power lithium-ion battery chains in foreign countries are higher than those in China, the automation level of factories is relatively high, which has alleviated some of the raw materials and labor costs.

Domestic power lithium-ion battery companies still have a long way to go to establish a foothold abroad, and it will take time to verify. But going out to see the world and broaden one's horizons is always a good thing. I hope there will be more international companies in China in the future.

Original title: Is there a future for domestic battery companies that go overseas?

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