CATL breaks ground for 50GWh lithium-ion battery manufacturing base in Yichun
Shanghai (Gasgoo)- On Oct. 28, CATL broke ground on a lithium ion battery manufacturing base in Yichun, China’s Jiangxi province, the battery titan announced via its WeChat account.
CATL's Yichun lithium-ion battery manufacturing base; photo credit: CATL
The Yichun battery project involves an investment of 13.5 billion yuan ($2.112 billion) and is expected to feature an annual production capacity of 50GWh new-type lithium-ion batteries.
The new battery factory will play an important role in CATL’s global strategic deployment and contribute to the building of a green industrial development system integrating lithium resources, lithium battery materials, power batteries and electric vehicles in Yichun, said CATL.
In July, the Ningde-based battery maker signed a strategic cooperation framework agreement with Jiangxi provincial government and Yichun municipal government to place the aforesaid project in Yichun.
Then in mid-September, CATL struck a deal with Yichun government to plow 13.5 billion yuan in the construction of a new-type lithium-ion battery manufacturing base in the city.
Yichun has the world's largest reserve of lepidolite, the most abundant lithium-bearing mineral, amounting to around 2.5 million tons of proven lithium oxide.
Notably, Gotion High-Tech, another main automotive lithium-ion power battery supplier in China, celebrated in late May the foundation stone-laying ceremony for its lithium-ion battery project in the lithium resource-rich city as well, which is scheduled to go into operation at the end of 2022.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods. Buyer service:firstname.lastname@example.orgSeller Service:email@example.com