Ningbo Ronbay, a leading Chinese manufacturer of battery cathode active materials (CAM), has reported a significant boost in sales for the first half of 2024, driven by the increasing demand in the electric vehicle (EV) market. The company experienced an 18% year-on-year growth in CAM sales, reaching 54,900 tonnes between January and June. Most of these sales were lithium-nickel-cobalt-manganese oxide (NCM), with 52,700 tonnes sold, while the remaining 2,200 tonnes consisted of other CAMs, including lithium manganese iron phosphate (LMFP).
Since acquiring Tianjin Skylandone in 2022, Ronbay has expanded its product lineup, adding LMFP to its offerings. This decision has proven successful, with LMFP shipments soaring by 166% in the first half of the year, though specific volumes were not provided. The company also made progress in the solid-state battery sector, delivering nearly 100 tonnes of 9 series solid-state battery CAM in the first quarter of 2024.
To support its expanding operations, Ronbay has increased its total cathode material production capacity to 200,000 tonnes per year, with substantial investments in both China and South Korea. The company is moving forward with the second phase of its South Korean project, which includes building a 40,000 t/yr NCM production line and a 20,000 t/yr LMFP line. Additionally, Ronbay plans to establish an 80,000 t/yr NCM precursor plant in South Korea and has set up production facilities in several Chinese cities.
Looking to the future, Ronbay aims to expand into the European and U.S. battery markets, with potential production sites in Poland and newly established subsidiaries in the U.S. This global expansion strategy aligns with the rapid growth of China’s new energy vehicle market, which recorded a 32% increase in production and sales during the first half of the year, totaling 4.944 million units.
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