Producer
CNGR Advanced Material Co., Ltd.
CNGR Advanced Material Co., Ltd. (Changsha, Hunan; SZSE: 300919) is a diversified battery materials producer that includes synthetic graphite anode material among its product lines, though CNGR is better known as a leading nickel-cobalt precursor and ternary cathode material producer. Its anode materials division contributes ~5-7% of global synthetic graphite anode supply. Customers include CATL, LGES, Samsung SDI. CNGR has also built significant overseas operations in Indonesia (nickel feedstock) and Finland (cathode precursor for European supply chains).
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NMC Cathode Precursor (pCAM)
45%Nickel & Cobalt Sulfates
25%Synthetic Graphite Anode
15%NMC Cathode Active Material (CAM)
15%
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Did you know2023
CNGR produces both battery cathode precursor (the most value-intensive material in the NMC supply chain) AND synthetic graphite anode material -- giving it a unique position as a supplier across both electrode types for the same EV battery cell. CATL and Samsung SDI, who buy CNGR cathode precursor AND CNGR graphite anode material, are simultaneously purchasing from the same Chinese supplier for both of the critical electrochemical materials in their battery cells. A CNGR quality issue, supply disruption, or Chinese government action would simultaneously affect both cathode and anode supply for their EV battery customers. European battery gigafactories seeking supply chain diversification from Chinese battery materials face CNGR as a supplier not only for one battery material but potentially for two -- limiting how much total diversification is achievable if CNGR is used for both electrode materials.
CNGR Advanced Material Co., Ltd. ↗Origin2023
CNGR Advanced Material was founded in 2012 in Changsha, Hunan Province -- a city in central China that has become a battery materials manufacturing hub partly due to its proximity to Central China's manganese reserves and partly due to CATL's gravitational pull on the battery supply chain. CNGR listed on the Shenzhen Stock Exchange in 2021. Its geographic expansion strategy has been distinctive among Chinese battery materials companies: rather than serving only Chinese customers from China, CNGR built an Indonesian operation (Morowali Industrial Park, for HPAL nickel processing close to Indonesian laterite ore) and a Finnish operation (Hamina, formerly a Google and Hamina facility, for European NMC precursor manufacturing). The Finnish facility gives CNGR European Union market access with local production -- allowing CNGR to supply European battery gigafactories (Northvolt, ACC, Stellantis) as EU battery regulation increasingly requires supply chain transparency and local content.
CNGR Advanced Material Co., Ltd. ↗