On March 12, Beiqi Blue Valley announced that its subsidiary Beiqi New Energy recently signed a Medium- and Long-Term Strategic Cooperation Agreement with Fueneng Technology. The two parties will cooperate in battery technology development and market after-sales service.

The announcement shows that in order to achieve the goal of a win-win strategy for BAIC New Energy and Feneng Technology in the next five years, the strategic cooperation between BAIC New Energy and Feneng Technology includes: To meet the dual requirements of the market for battery energy density and cost, the two parties will jointly Develop advanced and cost-competitive technical solutions, including ternary battery system and new ternary system battery solution; both parties will strengthen market after-sales service cooperation, strengthen customer response speed and solve problem-solving professional service capabilities; , judging the technical plan, in the case of technical and commercial prices to meet the needs of BAIC's new energy, BAIC New Energy is willing to promote the application of the Fenergy technology battery to more models.

In recent years, the energy-saving and environmental protection industries represented by new energy vehicles, direct-drive permanent magnet wind power and variable frequency household appliances have developed rapidly. In the future, the rapid development of these industries will greatly increase the demand for rare earth permanent magnet materials, thus driving the rapid development of the industry.