On December 30th, Jiangxi Miracle Golden Tiger Cobalt, a wholly-owned subsidiary of Miracle Automation, signed a joint venture contract with Sunwoda to jointly invest Yuan 80 million to establish a joint venture company and cooperate in the development of lithium battery material recycling business.
Among them, Jiangxi Miracle Golden Tiger Cobalt contributed Yuan 36 million, holding 45% of the shares, and Sunwoda contributed Yuan 44 million, holding 55% of the shares. The joint venture company will fully leverage the resource advantages of both parties in technology, capital, raw materials, production management, and market channels to promote the recycling of power batteries and jointly build a closed-loop lithium battery recycling industry.
Edited by Cassie Li, lixiangying@mysteel.com
