China-based Contemporary Amperex Technology Co., Limited (CATL) announced on September 13 that the company plans to invest no more than RMB 13.5 billion in the construction of new lithium battery production and manufacturing base project in Yichun City, Jiangxi Province. The planned land area of the project is about 86.7 hectares, and the construction period is expected to be no more than 30 months from the commencement of construction.
The company’s investment in the construction of production base is in line with the company’s strategic development plan, which will further improve the company’s capacity layout, meet the needs of the company’s future business development and market expansion, and is of great significance to promote its long-term and stable development. Though increasing the company’s capital expenditure and cash expenditure, it will have a positive impact on the company’s business layout and operating performance in the long run, said CATL.
The project was signed with Jiangxi Provincial People’s Government and Yichun Municipal People’s Government on July 30. The city is known as the “lithium capital of Asia”, with the world’s largest lithium mica mine, and now the proved available lithium oxide reserves are about 2.5 million tons.
The company also makes efforts to drive and control systems for electric vehicles, mainly include the R&D of new energy technology, manufacturing of new energy prime mover equipment, R&D of energy recovery system, sales of electric accessories of new energy vehicles, sales of charging piles, centralized fast charging power station and battery manufacturing.
CATL disclosed a huge fixed growth plan of RMB 58.2 billion yuan on August 12, which was mainly used to expand production capacity. According to the fixed increase scheme, the fixed increase is expected to add an annual capacity of 77 GWh lithium-ion battery and an annual capacity of about 30 GWh energy storage cabinet.
It will also invest RMB 7 billion yuan to promote the industrial application of advanced technologies such as key materials in the sodium-ion battery industry chain.
