China’s Tinci Material to build new facilities for lithium battery electrolyte production
Shanghai (Gasgoo)- Guangzhou Tinci Materials Technology Co., Ltd. (“Tinci Material” or “the company”), a Chinese supplier of fine chemicals and new materials, announced on May 6 it intends to use its self-raised funds to build facilities capable of manufacturing lithium battery electrolyte and recycling LFP batteries.
Photo credit: Tinci Material
The project is planned to involve a total investment of around 1.332 billion yuan ($199.631 million), 505.85 million yuan ($75.824 million) of which are set to be used for construction works. It will be managed by Fuding Kaixin Battery Materials Co., Ltd., a subsidiary indirectly wholly owned by Tinci Material. The whole construction is expected to span 18 months.
Under the project, the facilities will be built to contain an annual production capacity of 300,000-tonne electrolyte, 50,000-tonne lithium iron phosphate-doped powder, 8,000-tonne copper granules, and 4,000-tonne aluminum granules. Besides, they will also feature the capability of dismantling and recycling 100,000 tonnes of LFP batteries per year.
According to the announcement, when the aforesaid facilities become fully operational, the project is anticipated to deliver an annual operating income of around 8.676 billion yuan ($1.3 billion) and a yearly net profit of 420.86 million yuan ($63.084 million) on average.
Tinci Material said the implementation of this project would help the company strengthen its strategic deployment in the industrial chain of lithium ion battery electrolyte and LFP battery recycling, so as to address the issue of inadequate production capacity in some regions.
As a leading electrolyte supplier in China, Tinci Material has such main clients as CATL, BYD, and LG Energy Solution.
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:email@example.comSeller Service:firstname.lastname@example.org