Projects for Lithium Batteries
Ganfeng Lithium Co. Ltd., the world’s largest producer of lithium metal, announced that it is investing in two projects that will produce a “new type” of lithium batteries. The proposed investments, which represent a total of 15GWh of annual capacity and will be self-financed, are subject to shareholder approval later this month.
The company recently secured investments for its Ganfeng LiEnergy battery pack totaling CNY973.1 million (US$150.2 million). The first production is expected within two years of the start of construction, which is scheduled to start within three months.
The second project will be operational in October 2023. The total planned capacity of 15 GWh marks a major escalation in Ganfeng’s battery ambitions as demand for electric vehicles (EVs) grows.
Ganfeng Lithium is the biggest
Ganfeng Lithium is best known as a lithium battery supplier to customers including electric vehicle (EV) manufacturer Tesla.
The Chinese company, whose shares are double listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, said in a document that “in order to build a competitive new lithium battery production base and meet the development goal of the company to become bigger and stronger”, its subsidiary, Jiangxi Ganfeng LiEnergy Technology Co., Ltd. (Ganfeng LiEnergy) intends to invest CNY3 billion (USD463.2 million) to build a new type of lithium battery project with capacity annual 5 GWh in Jiangxi, where Ganfeng Lithium is based.
In addition, Ganfeng LiEnergy will invest CNY5.4 billion (US$833.7 million) to create a new independent company to build a new type of lithium battery with an annual capacity of 10 GWh and a project by the Battery Research Institute Advanced in Liangjiang New District, Chongqing.
No further details have been revealed about the “new type” of lithium battery. However, the company said the new institute will provide technical support for “various solid-state batteries” that use solid electrolytes rather than flammable liquids.
Group has the entire supply chain
The Ganfeng Lithium Group covers a wide range of the lithium battery supply chain, from the development, refining, and processing of lithium resources to battery manufacturing and recycling.
Its products are widely used in electric vehicles (EVs), energy storage, 3C products, chemical and pharmaceutical products.
The Group’s lithium resources are located throughout the world and it is the only company in the lithium industry that has commercial-scale technologies to extract lithium from brine, ore, and recycled materials.
The Group also has complete battery manufacturing and recycling technology, providing sustainable value-added solutions for battery manufacturers and electric vehicle manufacturers.
