The Sinochem International Corporation, an affiliate of Chinese conglomerate Sinochem, said it is planning to enter the new materials and new energy industries that are closely related to new energy vehicles, The Paper reported.

In October, Sinochem International completed the acquisition of Junsheng New Energy Technology and officially cut into the field of lithium batteries.

At present, it is building a lithium battery production base in Huai’an, Jiangsu Province. The base is expected to be put into operation in 2019, and further form a large-scale production capacity in about three years.

This state-owned chemicals producer said it will build a new energy ecosystem around cathode materials, lithium batteries and battery recycling, and become a solution provider in energy management for electric vehicles.