Baosteel, Mitsubishi Corp. to Develop New Energy, Technology

Baosteel Group announced on Thursday the firm and Japanese major trading firm, Mitsubishi Corporation agreed on co-development of new technology, material and energy. Baosteel Group’s president He Wenbo met with Mitsubishi Corporation’s president Ken Kobayashi with other officials of the companies at the eleventh top management meeting in Tokyo. They will cooperate in 6 fields including lithium battery, water resource, new energy, thermal power project and research and development.

Mr. He explained Baosteel’s strategic plan and Mr. Kobayashi discussed Mitsubishi Corporation’s new midterm plan. They exchanged their views mainly on new energy, new materials and new technology sharing their position to seek sustainable growth.