China's largest lithium-ion battery cathode active material (CAM) manufacturer XTC New Energy Materials plans to build a production complex for lithium iron phosphate (LFP) and lithium nickel-cobalt-manganese (NCM) oxide in Ya‘an city in southwest China's Sichuan province to keep pace with the rapidly growing lithium-ion and electric vehicle (EV) industries.
The 10bn yuan ($1.54bn) facility will have a designed capacity of 100,000 t/yr for LFP and 60,000 t/yr for NCM, which will be developed in several phases. The first phase will have a 20,000 t/yr capacity for LFP and 20,000 t/yr for NCM, with Yn1.2bn and Yn2.2bn investment respectively, and will be put into production in 2023 and 2024. Further details including the construction schedules and launch dates of the other phases were not disclosed.
The firm on 14 September also signed a strategic framework deal with the country's largest CAM precursor producer CNGR to deepen their co-operation on CAM supplies, including XTC New Energy buying 20,000-25,000 t/yr of cobalt tetroxide and 15,000-35,000 t/yr of lithium nickel-cobalt-manganese oxide (NCM) precursors until the end of 2023.
XTC New Energy was formerly the battery materials division of China's major diversified metals producer Xiamen Tungsten, which started research and development of lithium-ion battery cathode materials in 2004. XTC New Energy was incorporated in December 2016 and has operated independently since then, becoming a subsidiary of XTC, which...
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