Quzhou in East China's Zhejiang province has been developing industrial chains for new energy and new materials featuring cobalt in recent years.

As a necessary metal for the manufacture of new batteries such as lithium batteries, cobalt is widely used in electric vehicles, consumer electronics, aviation precision equipment and other fields, and is used as a positive electrode material for ternary lithium batteries of new energy vehicles.

Companies engaged in negative electrode materials, diaphragms and electrolytes, which are key upstream materials of lithium batteries, can also be found in Quzhou.

In the past two years, agreements for five new material industrial chain projects involving lithium electricity each worth more than 10 billion yuan ($1.44 billion) were signed in the city.

Construction on Geely's ternary lithium battery series project is underway. [Photo/WeChat account: quzhoufb]

Geely's ternary lithium battery series projects are currently under construction in the Quzhou Economic and Technological Development Zone. After completion, they will have the production and supply capacity of new energy power cells, battery packs, three-in-one electric drive systems and energy storage systems.

In mid-February, Zhejiang Shidai Lithium Electric Materials Co Ltd broke ground on the second phase of its industrial base. After completion, the company's lithium capacity will increase by 150,000 metric tons.

The two projects, with a total investment of more than 60 billion yuan, will bring an increase of nearly 200 billion yuan in output value to the city.