Ganfeng Lithium To Invest $1.3 Billion in Battery Production

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  • The second project will see Ganfeng LiEnergy spend another 3 billion yuan on a 5 GWh battery plant in Ganfeng’s home province of Jiangxi
  • The company did not elaborate on what the “new-type” batteries would be, although it said the institute would provide technical support for “various solid-state batteries,”

As per a report by Reuters, Ganfeng Lithium said that its subsidiary would invest a total 8.4 billion yuan ($1.3 billion) in two projects that will make “new-type” lithium batteries. Ganfeng LiEnergy will spend 5.4 billion yuan to set up an industrial park in Chongqing, southwest China, with annual battery production capacity of 10 gigawatt-hours (GWh) and an advanced battery research institute, Ganfeng said in a filing.

The report added that the company did not elaborate on what the “new-type” batteries would be, although it said the institute would provide technical support for “various solid-state batteries,” which use solid electrolytes rather than flammable liquid ones. First production is expected within two years of the start of construction, which is slated to begin within three months, said Ganfeng.

The second project will see Ganfeng LiEnergy spend another 3 billion yuan on a 5 GWh battery plant in Ganfeng’s home province of Jiangxi, which will be put into operation in October 2023. China’s top battery maker, Contemporary Amperex Technology Co Ltd (CATL), currently has 69.1 GWh of production capacity and another 77.5 GWh under construction.

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