Huayou Aims for $2.7 Billion to Fuel Ford-Backed Nickel Plant in Indonesia
2 months ago
In a significant push to capitalize on the booming electric vehicle (EV) market, Huayou Cobalt Co., a leading Chinese battery materials supplier, is actively seeking to raise a staggering $2.7 billion. The funds will be directed towards the construction of a nickel processing plant in Indonesia, a project that boasts backing from automotive giant Ford Motor Company. This initiative is expected to bolster Huayou’s position in the global battery supply chain as demand for nickel intensifies against the backdrop of rapid EV adoption.
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