Shanghai (ZXZC)- Jiangxi Ganfeng Lithium Co., Ltd. ("Ganfeng Lithium"), one of the world's leading producers of battery-grade lithium, on Jan. 19 announced two investment plans to launch a battery manufacturing project in Chongqing and Dongguan cities, respectively.

The company said its board of directors on Jan. 18 approved its subsidiary, Jiangxi Ganfeng LiEnergy Technology Co., Ltd. (“Ganfeng LiEnergy”), to sign an agreement with the government of Chongqing city's Fuling district, Chongqing Three Gorges Water Conservancy and Electric Power Co., Ltd., and East Shineray Group Co., Ltd. to build a power battery base in Fuling district.

Photo credit: Ganfeng Lithium

Involving a planned investment of 10 billion yuan ($1.475 billion), the Fuling-based project will contain the production lines capable of producing 24GWh power batteries annually (including LFP batteries, ternary lithium batteries, and solid-state batteries), the lines with the annual capability of assembling 10GWh battery packs per year, as well as other facilities, such as BMS (battery management system) development center, and battery R&D and testing hubs.

On the same day, the board also approved the proposal to build a headquarters project for new-type lithium ion batteries and energy storage systems in Dongguan city, Guangdong province, with a total of 5 billion yuan ($737.42 million) to be poured.

Managed by Ganfeng LiEnergy as well, the facilities to be constructed in Dongguan will encompass the R&D centers and production lines for LFP batteries, semi-solid-state cells, light power batteries, outdoor portable power supply, outdoor energy storage system, as well as the energy storage systems for industrial and commercial uses, featuring an expected yearly production capacity of 10GWh.

The aforesaid two projects will help Ganfeng Lithium lift its production scale, market share, and R&D ability of lithium ion batteries, improve relevant industrial chain structure, and enhance the overall corporate competitiveness, said the company.