Research On Motivation And Performance Of Overseas M&A Of Lithium Electric Enterprises Under The Background Of Double Carbon Targets

Since September 2020,China has proposed two stages of carbon emission reduction goals: striving to achieve carbon peak by 2030,and striving to achieve carbon neutrality by2060.The "double carbon target" has become the strategic direction of China’s low carbon transition development during the 14 th Five-Year Plan period and even in the long term.As an important energy metal,lithium resources are used in high-energy lithium batteries and controlled thermonuclear reactions,making lithium resources an important way to solve the long-term clean energy supply for human beings.Lithium batteries also fundamentally improve the way energy is stored and used,not only for our daily lives,but also for storing solar and wind energy,making a fossil fuel-free world possible.We will vigorously promote the development of lithium energy and make a positive contribution to achieving our dual carbon goal as soon as possible.With limited lithium resources in China,lithium companies have frequently engaged in overseas M&A activities,which are also an important means of promoting corporate development and economic growth.Therefore,it is of great theoretical and practical significance for both economic and market development to study the motivation and performance of overseas M&A by lithium enterprises in the context of the dual carbon target.This paper uses a combination of theory and case studies to investigate the motivation and performance of overseas M&A by lithium enterprises in the context of the dual carbon target.Firstly,the current situation of overseas M&A in the lithium industry as a whole is analysed;secondly,the overseas M&A behaviour of Ganfeng Lithium is analysed and the motivations and performance of its M&A are discussed;finally,suggestions for overseas.M&A by lithium enterprises in the context of the dual carbon target are put forward.This paper finds that the motivations for Ganfeng’s overseas M&A in the context of the dual carbon target can be divided into intrinsic and extrinsic motivations.The extrinsic motivations include the country’s active promotion of the implementation of the dual carbon target,the scarcity of high-quality lithium resources in China,and the intensified competition for lithium resources;the intrinsic motivations include the realization of an integrated development strategy for the upstream and downstream of the lithium industry chain,the consolidation of the company’s dominant position in the industry competition,and the development of new channels to obtain high-quality lithium resources.The underlying motivations include achieving an integrated strategy in the upstream and downstream of the lithium industry chain,consolidating the company’s competitive position in the industry,and developing new channels to access high-quality lithium resources.It is as a result of overseas M&A becoming an effective way to improve corporate assets that more companies are seeking overseas development,and China’s dual carbon targets and energy transition are driving more overseas M&A implementation.In terms of performance,the analysis of financial performance,operational performance and social performance shows the differential changes brought about by corporate M&A.In addition,this paper selects a case study of Ganfeng Lithium’s overseas M&A,which broadens the richness of overseas M&A research of lithium enterprises in the context of the dual carbon target,and provides new ideas for China’s dual carbon target policy and overseas M&A research of new energy lithium enterprises.At the same time,this paper hopes to find inspirations with reference value for lithium enterprises to implement overseas M&A in the context of dual carbon targets.