Shanghai (ZXZC)- Ganfeng Lithium, a leading Chinese lithium producer, recently announced that its subsidiary, Ganfeng LiEnergy, had entered into a partnership with Turkish company YIGIT AKU to establish a joint venture in Turkey.

The two companies plan to invest $500 million (approximately 3.57 billion yuan) to build a lithium battery project with an annual production capacity of 5 GWh. This facility will include production lines for both lithium batteries and battery packs, with capacity adjustments based on market demand.

Photo credit: Ganfeng Lithium

In addition to the production facility, the joint venture plans to establish an R&D center focused on advanced lithium battery technologies. This center will specialize in the development of solid-state batteries, high-power batteries, and batteries for maritime and aerospace applications. It will also prioritize new technology development, R&D projects, and intellectual property acquisition.

YIGIT AKU, a publicly listed company in Borsa Istanbul, Turkey, was founded in Ankara in 1976. It is the largest lead-acid battery manufacturer, exporter, and recycler in Turkey, operating four production facilities and two battery R&D centers in the country. The company serves over 500 clients across more than 100 countries on five continents.

Ganfeng LiEnergy emphasized that this joint venture marks the beginning of a long-term strategic partnership with YIGIT AKU. The collaboration will leverage Ganfeng Lithium's full industrial chain and ecosystem resources alongside YIGIT AKU’s expertise in battery manufacturing, technology, and its established position in the international market. Together, they aim to complement each other’s strengths and expand their business in Turkey and globally.