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battery maker REPT plans IPO to boost three fold pipeline expansion by 2030","tsingshan-backed-battery-maker-rept-plans-ipo-to-boost-three-fold-pipeline-expansion-by-2030","article/tsingshan-backed-battery-maker-rept-plans-ipo-to-boost-three-fold-pipeline-expansion-by-2030",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":704,"featured":51,"reporter":705,"_editable":709,"component":710,"seo_title":553,"categories":711,"visibility":718,"author_company":49,"featured_image":719,"seo_description":704,"author_full_name":49,"author_job_title":49,"formattedDate":723,"formattedArticleDate":724},"7bf25f73-c8cd-49f3-82fa-d13e9600fb21","2023-04-18 00:00",[560],{"slug":561,"name":562},"china","China",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":574,"content":575},"doc",[576,583,598,603,608,613,618,630,639,644,649,654,659,664,669,674,679,684,689,694,699],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"Chinese Tier 2 electric vehicle battery maker REPT, a subsidiary of steel and nickel major Tsingshan, plans to go public this year as it looks to fund a threefold ramp up of domestic cell capacity pipeline  by the end of the decade to take on bigger rivals such as CATL, BYD and others.","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586,588,596],{"text":587,"type":582},"REPT’s annual cell production capacity is set to exceed 70 gigawatt hours by the end of this year, according to the company. That pipeline is expected to grow to 226 GWh by 2030, according to ",{"text":589,"type":582,"marks":590},"Benchmark’s Gigafactory Assessment",[591],{"type":592,"attrs":593},"link",{"href":594,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/","url",{"text":597,"type":582},".",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"Booming global demand for electric vehicles and a race for securing critical battery materials is prompting battery producers to raise their capacities and deploy strategies including vertical integration to achieve greater upstream control and a tight lid on costs to offset increasing prices of key raw materials.",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":582},"“REPT often benefits from its relationship with parent Tsignshan, and consequent vertical integration within the supply chain, by tending to spend less per gigawatt hour of capacity than the average Chinese cell producer” said Evan Hartley, analyst at Benchmark. ",{"type":577,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":582},"Currently ranked eighth in China behind Tier 1 heavyweights CATL and BYD and Tier 2 rivals such as CALB, EVE Energy, SVolt, Gotion and Sunwoda, the Tsingshan subsidiary plans to list itself in an initial public offering (IPO) later this year. ",{"type":577,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":582},"“Cell producers are increasingly looking for and pursuing vertical integration as a strategy and are moving towards establishing projects across the supply chain. REPT’s parent company is already in the space and can guarantee midstream material and lower its exposure to volatile raw material markets, and therefore keep lower costs for customers,” Hartley said.",{"type":577,"attrs":619,"content":620},{"textAlign":49},[621,623,629],{"text":622,"type":582},"CATL and BYD together control 30% of the global installed capacity, according to ",{"text":624,"type":582,"marks":625},"Benchmark’s Lithium ion Battery Database",[626],{"type":592,"attrs":627},{"href":628,"uuid":49,"anchor":49,"target":49,"linktype":595},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/",{"text":597,"type":582},{"type":577,"attrs":631,"content":632},{"textAlign":49},[633],{"type":634,"attrs":635},"image",{"id":49,"alt":636,"src":637,"title":49,"source":49,"copyright":49,"meta_data":638},"","https://a.storyblok.com/f/287943243085208/3464ccd675/bm-screenshot-2023-04-18-at-42933-pm.png",{},{"type":577,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":582},"Driving costs lower with parent Tsinghsan",{"type":577,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":582},"According to REPT, newcomers face a high barrier in supply chain management when compared with established peers and tend to have less bargaining power when negotiating with suppliers spurring the need to have a stable, low-cost, and high-quality raw materials supply.",{"type":577,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":582},"REPT has in its IPO disclosure spelt out how its links with parent Tsinghsan would help it secure battery materials beyond nickel. Yongqing Technology, a subsidiary of Tsinghsan, would supply the cell maker with lithium compounds, ternary precursors, separators and graphite, according to a disclosure with the Hong Kong stock exchange.",{"type":577,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":582},"The disclosure notes that the steel and nickel producer Tsinghsan plans to make inroads in the battery industry with plans to gain direct control or equity investment in upstream resources such as the mining and refining of nickel, lithium and cobalt as well as midstream resources such as cathode materials, cathode precursors, anode materials, separators and electrolytes.",{"type":577,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":582},"The privately held Tsingshan and its founder Xiang Guangda were behind the massive nickel short squeeze in March last year. ",{"type":577,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":582},"REPT counts SAIC-GM-Wuling, Hozon Auto, Leapmotor as some of its existing clients. ",{"type":577,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":582},"“Whilst there is a lot of capacity scheduled to come online over the next decade in China, REPT’s position as a qualified Tier 2 producer will allow the company to maintain relationships within the EV market, and branch out into the growing needs of China’s ESS industry,” Hartley said.",{"type":577,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":582},"Scaling up plans",{"type":577,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":582},"REPT currently has cell making factories at Wenzhou and Jiashan in Zhejiang Province that make batteries for electric vehicles and energy storage purposes.At Jiashan, the cell maker plans to expand capacity to 32 GWh by the end of 2024 and at Wenzhou to 50 GWh by the end of next year.",{"type":577,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":582},"REPT’s current capacity pipeline includes a balance of lithium iron phosphate (LFP) batteries and nickel, cobalt, manganese (NCM) battery production, though it is likely the company will focus more production on LFP cells, to suit the needs of its domestic EV and ESS customers.",{"type":577,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":582},"At Foshan and Liuzhou, the company has plans to establish new factories with planned production capacity of 30 GWh and 20 GWh in the second half of this year.",{"type":577,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":582},"The company also aims to set up factories in Europe, Southeast Asia and South America.",{"type":577,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":582},"Benchmark estimates REPT has so far invested a total of $10.8 billion in cell making factories. ","Chinese Tier 2 electric vehicle battery maker REPT, a subsidiary of steel and nickel major Tsingshan, plans to go public this year as it looks to fund a threefold ramp up of domestic cell capacity pipeline by the end of the decade to take on bigger rivals such as CATL, BYD and others. REPT’s annual […]",[706],{"slug":565,"name":566,"content":707},{"job_title":568,"image":708,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"7bf25f73-c8cd-49f3-82fa-d13e9600fb21\", \"id\": \"\"}-->","article",[712,715],{"slug":713,"name":714},"batteries","Batteries",{"slug":716,"name":717},"critical-minerals","Critical Minerals","private",{"id":49,"alt":636,"name":636,"focus":636,"title":636,"source":636,"filename":720,"copyright":636,"fieldtype":721,"meta_data":722,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/610fd90eb0/bm-wuling-air-ev.jpg","asset",{"alt":636,"title":636,"source":636,"copyright":636},"Apr 18, 2023","18th April 2023",[],[],1792773916584]