Nantong secures investment from South Korean company
The Shibei High-Tech Zone in Nantong, Jiangsu province, signed a cooperation intention agreement with Teasung, South Korea's leading printed circuit board engineering automation equipment company, on Aug 28.
The agreement focuses on a project to manufacture secondary battery negative electrode materials and production equipment.
With a total investment of around $350 million, the project aims to produce materials with excellent conductivity, strong mechanical strength, and chemical stability. These materials are expected to be widely used in lithium-ion, lithium-sulfur, and sodium-ion batteries and find applications in terminal scenarios such as new energy vehicles, energy storage, printed circuit boards, and flexible electronic devices.
Teasung specializes in the production of grinding machines and wet process equipment. Their high-end products include vacuum two-fluid equipment and vertical non-contact equipment.
During the signing ceremony, Kim Jong Hak, chief executive officer of Teasung, expressed optimism about Nantong's vast development opportunities and Chongchuan district's enormous investment potential. He said he was impressed by the vibrant industrial development and innovative spirit in the region and pledged the company is committed to meeting industrial development needs, implementing the terms of the agreement effectively, and contributing to the high-quality development of Chongchuan.
A signing ceremony between the Shibei High-Tech Zone and Teasung. [Photo/WeChat account: chongchuanonline]
