Monday, October 25, 2021

CATL's subsidiary to build battery cathode material production base in Yichang - Gasgoo Auto News

Last updated Wednesday, October 13, 2021 03:12 ET , Source: NewsService

Shanghai (Gasgoo)- Guangdong Brunp Recycling Technology Co., Ltd. (Brunp Recycling), whose majority shareholder is CATL, plans to build a new energy vehicle (NEV)-related power battery cathode material industrial park in Yichang, central China’s Hubei Province, according to the agreements it signed on October 12.

Photo credit: CATL

For this project, Brunp Recycling inked agreements with Yichang Municipal Government, Yichang Hi-tech Industrial Development Zone Management Committee, and a Hubei-based chemical product manufacturer Hubei Yihua Group.

Meanwhile, Ningbo Brunp Contemporary Amperex Co., Ltd. (Ningbo Brunp CATL), a joint venture between Brunp Recycling and CATL, also signed agreements with the aforementioned authorities and firm.

Under the agreements, Brunp Recycling and Ningbo Brunp CATL will invest no more than 32 billion yuan ($4.962 billion) in the construction of a battery cathode material manufacturing base in Yichang that features a full-lifecycle product chain extending from phosphoric acid, raw material, precursor, ternary cathode material to battery material recycling.

The project is designed to help CATL improve its strategic deployment in new energy vehicle battery industry, safeguard the raw material supply for its battery production, and build a sound battery recycling system.

According to the business data provider Tianyancha, CATL holds around 53% stake in Brunp Recycling, which is a major Chinese lithium nickel cobalt manganese oxide precursor and...

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