BATTERY maker Contemporary Amperex Technology Co. (CATL) and battery recycler GEM Co. have joined the Responsible Cobalt Initiative (RCI), an industry group set up to tackle risks in the cobalt supply chain. The RCI board Friday approved the application from CATL, which makes lithium-ion batteries for electric vehicles (EVs), the group’s executive secretary Christina Feng said, adding that GEM joined the group last week. German carmaker Daimler also joined the RCI last month. Cobalt is a key ingredient in rechargeable batteries used in EVs and consumer electronics. “Battery companies are an important link in the cobalt supply chain and ... their active and positive engagement is indispensable,” Feng said. The growing number of RCI members underscores how seriously cobalt users are taking the traceability of their material after allegations of sourcing via child labor in the Democratic Republic of Congo, the country that supplies about 60 percent of the world’s cobalt. CATL, which is based in Ningde of southeastern China’s Fujian Province, plans to set up a battery plant in Europe. The company is preparing for a US$2 billion initial public offering in Shenzhen. A company spokesman did not respond immediately to a request for comment. GEM, which is based in Shenzhen, also makes battery materials. (SD-Agencies) |